In a press release, Google announced today it's intention to apply to participate in the Federal Communications Commission's upcoming auction of wireless spectrum in the 700 megahertz (MHz) band. "We believe it's important to put our money where our principles are," said Eric Schmidt, Chairman and CEO, Google. "Consumers deserve more competition and innovation than they have in today's wireless world. No matter which bidder ultimately prevails, the real winners of this auction are American consumers who likely will see more choices than ever before in how they access the Internet." The auction is part of the federally mandated transition to digital television in order to free up spectrum airwaves for more efficient wireless Internet service for consumers.