After nearly three weeks of bidding, the Federal Communications Commission’s Auction 58 ended earlier today after 91 rounds and $2.25 billion in total bids. The auction, which began Jan. 26, included 242 spectrum licenses in the 1.9 GHz spectrum bands that were returned by previous winners and was initially expected to draw between $3 billion and $3.5 billion in total bids.
As has been the case for most of the auction, MetroPCS Inc.’s bidding partner Royal Street Communications L.L.C. posted the highest bids by a single entity at $387.4 million for six spectrum licenses in the 1.9 GHz spectrum bands. Royal Street’s haul included the single-highest bid for a market with a $374.5 million bid for a 10-megahertz license covering Los Angeles.
Verizon Wireless totaled just more than $697 million total bids between its CellCo Partnership and Vista PCS L.L.C. bidding partners for 63 spectrum licenses, including $142 million for a St. Louis license that was the second-highest price paid for a single license.
Analysts noted that total bids fell short of initial predictions due to a lack of attractive markets, the recent rash of industry consolidation and plans for additional spectrum auctions later this year.
