FCC $PECTUM AUCTION PASSES $16B!!! 11/2014 Update: now over $24.1B.Posted November 19, 2014 by admin
11/20/14 UPDATE: Less than 24 hours after this post, the auction has now surpassed 24 Billion Dollars.
Federal Communications Commission (FCC) spectrum auction bids passed $16 billion, exceeding the federal regulatory body’s $10.5 billion minimum goal. On Nov. 19 the 16th round of bidding will start.
“Auction 97” is it’s called, is the FCC’s spectrum auction includes 1,614 licenses.
The FCC set minimum opening bids for paired licenses based on a formula that considers 15 cents per megahertz/per potential customer.
Bidding on a specific license closes when the reserve price is met and, at the same time, after five rounds during which there are no new bid for that license.
The major metropolitan areas are drawing the largest bids. These densely populated areas will be big profit generators for carriers due to all the data in the air. The New York City & Long Island area have a current bid over $1.4 billion. Expect that number to increase.
The bidding format for the auction consists of four, one-hour rounds of bidding scheduled. Past history has shown that some of these FCC spectrum auction could go on for over 30 days.