The FCC’s auction for 700MHz wireless airwaves finished its twentyfirst
round of bidding last night, with projected proceeds surging to a total of $15.6
billion, after soaring past the $10 billion reserve price set by Congress
earlier in the day.
The ongoing auction consists of five blocks of wireless spectrum which will be
relinquished by broadcasters after they switch to alldigital programming early
The top bid for the ‘Cblock’ nationwide license currently stands at $4.713
billion, having topped its mandatory floor price of $4.6 billion. The ‘Dblock’
license, meanwhile, which must be shared with firstresponders as part of a
publicprivate network, and carries a minimum price of $1.3 billion, has failed
to attract any new bids since a first round offer of $472 million.
Analysts’ estimates for this action have ranged from $10 billion to $20 billion
in revenue, which will be turned over to the U.S. Treasury. Bidding is set to
resume this morning.
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