The Federal Communication Commission’s 700 MHz spectrum auction slogged past the $19.3 billion mark yesterday afternoon on its slowing march to an eventual conclusion that analysts note might not come until the end of the month. The final three rounds of bidding conducted yesterday added around $30 million to the auction’s total potential winning bids, while the three rounds held so far this morning tacked on another $33 million pushing the auction’s total to $19.334 billion after 60 rounds.
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The number of new bids slid overnight from an average of 145 bids per round during the final three rounds yesterday to 130 bids per round today. New bids have concentrated around the E-Block licenses, which were the last block to surpass their reserve price – excluding the D Block, which remained well below its $1.3 billion reserve price. The Aberdeen, S.D., E Block in particular remained the most contested licenses drawing at least 2 bids per round during the past half-dozen rounds of bidding.
After a flurry of bidding in early rounds yesterday, the E-Block license covering the New York City area was quiet through the past six rounds sitting with a potential winning bid of $225 million.
Bidding is expected to remain at its six rounds-per-day pace for the foreseeable future, though the FCC did note that it would suspend bidding on Feb. 18 in observance of President’s Day.
