FCC Slams The Brakes On Forward Auction
The FCC’s Forward Auction cannot go forward any further.
Despite the shift to three hour-long daily bidding sessions on August 23 and Monday’s doubling of the increment percentage used to set new clock prices for each round of bidding, Stage 1 of the spectrum auction was put to a halt after Round 27.
With intra-day bidding activity down significantly from the previous two days, Stage 1 ends with $23.11 million in total bids. Once bidding credits and discounts are factored in, the Forward Auction’s total will stand at a paltry $22.45 billion.
That’s $65.85 billion less than what the FCC had hoped for.