To little surprise, New York and Los Angeles were the two markets where the heftiest prices paid for spectrum were seen in Stage 4 of the FCC’s Forward Auction, which concluded on Friday afternoon following Round 58.
But, where was bidding not-so-spectacular? RBR + TVBR examined the final bids seen in all markets, and compared them to the Clock Price seen in the last round of bidding. While wireless companies stepped it up in that final bidding session, there were two big markets that didn’t get close to what broadcasters may have expected to see.
In the Big Apple, two chunks of spectrum went for $477,249,780.
In L.A., twin slices of spectrum attracted $388,489,000.
But, just three other markets saw bidding surpass $100 million. In Chicago, two spectrum chunks went for $125,094,000 and $137,917,000, respectively. Meanwhile, a twin set of spectrum slices in San Francisco-Oakland each attracted $103,695,000.
In the designated Baltimore-Washington region, $104,882,000 was the winning bid for two pieces of spectrum.
Perhaps the biggest news out of the Forward Auction concerning where the dollars went involves the Philadelphia and Miami-Fort Lauderdale-Hollywood markets.
In Philadelphia, two spectrum slices each had a clock price of $100,425,000. Bidding finished at $87,326,000.
Bidding in Miami wrapped up with two pieces of spectrum going for $87,373,000; a clock price of $100,479,000 had been posted.
Meanwhile, bidding in Dallas saw two slices of spectrum go for $85,928,000; the clock price of $98,818,000 was not met.
On the flip side, bidding in certain top markets was rather underwhelming.
In Pittsburgh, the Forward Auction concluded with a clock price of $17,109,000 for the two pieces of spectrum up for bids not being met, with winning bids of $14,877,000 seen in the market.
Other markets with similar bidding include Nashville, Indianapolis, and Kansas City.
Even so, overall bidding in the final round of Stage 4 saw wireless companies step up to the plate and make across-the-board bids in market after market.
One slice of spectrum in Frederick, Md., attracted a bid of $5,248,000. Two slices of spectrum in Jackson, Miss., could not top the $5 million mark in the final round of bidding, with the top bid of the two at $4,513,000.
Yet, Plattsburgh, N.Y. saw bidding for two pieces of spectrum max out at $150,000.
Then, there is Olney, Ill., a small city between St. Louis and Seymour, Ind., along U.S. 50. Two pieces of spectrum saw bidding conclude with bids of $17,000 and $18,000, respectively.
With the Forward Auction’s end, varying reactions came from key observers and industry influencers.
Preston Padden, a respected former television station executive who is now an adjunct professor at the University of Colorado Law School, said, “My carrier friends will regret the prime spectrum they left on the table.”
NAB EVP/Communications Dennis Wharton noted that with the conclusion of the clock phase in the forward auction and preparations already underway for the assignment phase of the auction, “the Commission can turn greater attention to developing a transition plan that will protect viewers and treat all stakeholders fairly.”
