SAN DIEGO-Qualcomm Inc. said the FCC has amended the terms of its Auction Discount Voucher (ADV), to allow Qualcomm to use the remaining $114 million of its ADV to satisfy existing FCC auction debt of other companies.
Qualcomm was originally awarded the ADV after the FCC was ordered to grant Qualcomm spectrum in accordance with its Pioneer’s Preference Program. The FCC denied the request, Qualcomm’s earmarked spectrum was auctioned and the company received an ADV for $125 million to either put toward a future auction or transfer to another auction participant.
Qualcomm transferred $11 million of the ADV to Summit Wireless L.L.C. last year, but due to auction postponements, it has not had the opportunity to use the rest of it. With the revision, Qualcomm can pay off auction debt of other companies. Qualcomm itself has no auction debt.
