FCC 600MHz auction has a $86.4 billion clearing target

The FCC has announced the conclusion of its reverse auction for the repackaging of 600MHz spectrum. It’s currently in use for TV broadcasting, but will be converted for wireless internet uses.

The commission has gotten down to the cumulative minimum cash-out that broadcasters would accept in order for the auctions process to end and the amount may startle analysts and prospective bidders. The exact number? $86,422,558,704.

Analysts are expecting that bids in the forward auction will only total to about $30 billion.

If the $86 billion clearing target is not met by the end of the forward auction process, the FCC will restart its procedure by assessing how much spectrum will be available, given revised expectations.

The forward auction is expected to begin late in July or early August.

Source: FCC
Via: Phone Scoop

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.