The FCC’s 600 MHz incentive auction, once billed as the most important spectrum sale of the decade, has descended into embarrassing failure. On Thursday, the regulator increased the number of rounds of bidding per day to try to spur a pace of activity which BTIG Research labelled “anaemic”. From today, the FCC will move from the current schedule of two two-hour rounds per day to four one-hour rounds, although increments per round remain unchanged. Last week, bidders had committed $18.5bn after round 11, which ended on Thursday. But the bidding amount has increased by only 4% over the past week. Walter Piecyk of BTIG wrote in a research note: “There has not been bidding in the top 40 markets since…