FCC Auction 93 ended Thursday, with 22 percent of FM...
FCC Auction 93 ended Thursday, with 22 percent of FM construction permits left unsold and the other 93 going for $3.83 million net (http://xrl.us/bm2xcd). That’s less than half the $8.54 million raised in the last auction of FM stations in…
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2011, though Auction 91 also had unsold permits (http://xrl.us/big4gt). “That slump is consistent with an eight-year trend,” auction lawyer Raymond Quianzon of Fletcher Heald wrote on the law firm’s blog (http://xrl.us/bm2xht). “The considerable downturn in proceeds may be attributable to any number of factors, including the rough economic times and the fact that a number of the permits this year were re-treads that had already gone unsold (or, in some cases, sold but unbuilt) in previous auctions.” Almost a third of the permits in Auction 93 were sold for the lowest possible bid, “and we can look for more re-tread opportunities in future auctions, since more than two dozen permits had no bidders at all,” Quianzon wrote. Others hadn’t expected this auction to raise much (CD Jan 4 p4).