H Block Nears $700 Million in Bids
New York Remains Top Draw, Accounting for Almost 25% of That Total
By: John Eggerton
Multichannel News
Jan 29 2014 - 12:40pm
http://www.multichannel.com/technology/h-block-nears-700-million-bids/147982
With 19 rounds completed, the FCC's H block auction has drawn almost
$700 million in bids for 144 of the 176 licenses available.
Not surprisingly, the top three media markets are the top three in bid
amounts with New York, the nation's largest media market, at
$170,429,000, followed by L.A. with $103,587,000 and Chicago at $75,055,000.
The auction is not quite half way to the aggregate floor price of $1.564
billion the FCC set, but at least that price is guaranteed regardless of
whether it makes that figure in open bidding.
Dish has agreed to bid at least that much in exchange for a waiver the
FCC issued giving it more flexible use of adjacent spectrum Dish already
owns, which the company had said was a quid pro quo for its
participation in the auction.
The H block auction is the first of three auctions to raise money for
FirstNet, the broadband interoperable public safety net proposed by the
911 commission, culminating in the broadcast incentive auction planned
for 2015.
The more money raised in the first two auctions, the less pressure there
is on the broadcast auction to pay for FirstNet.
The H block auction launched Jan. 22.
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