AT&T and Verizon are in the mix too, as bidders line up for January's wireless spectrum auction.

If the FCC's January 700 MHz spectrum auction is indeed a sale of “beachfront property,” count AT&T, Cox, Google and Verizon among the beachcombing shoppers while Comcast and Time Warner keep their wallets in their pockets.

Last week was the deadline for submitting auction bids. The FCC is not required to reveal the bidders until mid-December, but several companies have gone on record with their intentions.

Most notable is Google, with Eric Schmidt, its CEO, stating that the search giant is putting its “money where our principles are” in joining the auction. Google also recently unveiled its Android open mobile software and Open Handset Alliance projects, a move which seemingly pushes Verizon Wireless into pursuing a more open network strategy as well.

Google said it is going it alone, leaving some to wonder how serious its bid would be, given the $4.6 billion reserve price for the open spectrum block it covets and the complexity of launching a new mobile network from scratch.

“A more likely explanation,” said Jan Dawson, vice president of Ovum's U.S. enterprise practice, “has always been that Google doesn't want to become a mobile operator any more than it wants to build mobile phones. Google's chief interests lie in ensuring that there are as few barriers as possible to the adoption of Google products and services on mobile devices.”

On the telco side, AT&T and Verizon both have signalled plans to bid, while other wireless carriers such as Sprint and T-Mobile have been silent. As for cable, the bag is mixed, with privately held Cox announcing plans to bid and public companies Comcast and Time Warner bowing out, apparently worried about the drag it might have on their already lagging stock prices.

In a statement, Comcast said spectrum in the 1.7 GHz and 2.1 GHz frequencies acquired last year by SpectrumCo — a group that includes Comcast, Cox and Time Warner — gave it all the wireless bandwidth it needs for now.

The FCC is expected to reveal all 700 MHz bidders by mid-December, with interested companies required to make a deposit no later than Dec. 28. The closed-door auction begins on Jan. 24.