Bidding Closes on ‘Reverse’ Auction

By on Jun, 29 2016 with Comments 0

GavelThe FCC has closed on the first part of the incentive auction, setting an exit price of $86,422,558,704 for television broadcasters.

That’s how much the commission would pay TV owners if the agency gets at least that much in bids from wireless companies and other “forward” auction bidders.

The “reverse” auction closed Wednesday morning after 52 rounds. The forward auction is likely to begin later in July.

The commission’s goal was to clear 126 MHz of spectrum.

NAB EVP Communications Dennis Wharton said “Broadcasters have done our part; now it’s up to the wireless industry to demonstrate the demand is there for low-band TV spectrum.”

 

About The Author: Leslie Stimson has been a reporter for 35+ years, starting in radio news. She’s spent the last 20 years reporting for radio trades.

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