700 MHz Spectrum auction started
by
Charlie Bess
A few weeks ago I gave an update on the spectrum action. Well now it’s started.
A total of more than $2.4 billion were submitted on Thursday in the initial round of the Federal Communications Commission's auction of spectrum. This was the sum of bids received for five blocks of spectrum.
The opening high bids for this spectrum included a $472 million offer for the "D" block, which will have to be shared with public safety agencies under FCC rules. It also included a high bid of $1.04 billion for the sought-after "C" block.
The identity of the bidders will be kept secret until the entire auction ends under FCC rules. At the conclusion of the auction it is expected to net the federal government at least $10 billion.
Starting on Friday, the FCC is scheduled to hold three rounds of bidding each day until further notice.
