First Day of 3.45 GHz Bids a Third as High as C Band Was

The 3.45 GHz auction opened Tuesday with $672.4 million in gross bids after the first two rounds. That compares with $1.9 billion in bids in the C-band auction after the initial day in December (see 2012080040). The bidding after the first round “suggests all four national carriers are bidding for 40MHz in the auction, meaning the auction is on the right track to close,” New Street’s Philip Burnett told investors. Three rounds are scheduled for Wednesday. The auction has to raise almost $14.8 billion to close and cover the expected sharing and relocation costs for federal users. “We are moving with record speed and collaboration to free up more mid-band spectrum for 5G,” said FCC acting Chairwoman Jessica Rosenworcel, announcing the start of the auction.