3.45 GHz Auction Edges Closer to Hitting Reserve Price
The FCC 3.45 GHz auction hit $13.24 billion Tuesday, after five more bidding rounds. That’s short of the $14.77 billion reserve price needed for a successful close. After a rough patch last week (see 2110140059), the auction now seems more…
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likely to hit the reserve, New Street’s Philip Burnett told investors Monday: “However, with the elasticity of demand being unpredictable and with demand in many large markets near enough to supply that a single bidder dropping out could end bidding it that market, it is still too soon to call it.”