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700MHz Auction Update: High Bids Total $3.2 Billion

The high bids totaled $3.2 billion in the U.S. Federal Communications Commission's auction of wireless spectrum licenses in the 700MHz band after three rounds and a day and a half of bidding. That figure is far short of the $10 billion Congress and the FCC expect to raise in the auction, which opened Thursday, but bidding could continue for weeks. In most cases, the high bids don't yet meet the FCC's reserve price set for minimum winning bids.

For sale is 62MHz of spectrum in the 700MHz band. In late 2005, after a decade of debate, Congress passed a law requiring U.S. TV stations to move to all-digital broadcasts and abandon analog spectrum between channels 52 and 69. The deadline for TV stations to end broadcasts in the 700MHz band is February 2009. After three rounds, 906 of the 1,099 available spectrum licenses had bids, with four more licenses receiving bids than at the end of round two late Thursday. High bids had totalled just under $2.8 billion after round 2, and just over $2.4 billion after round one Thursday morning.

PCWORLD.com

Posted by | Fri, Jan 25, 2008 - 09:25 PM