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Finance

H Block Gets Another Snow Day

Auction Only about $200 Million Shy of Floor Price with Bids Still Coming In 2/13/2014 11:10 AM Eastern

 

 With a snowstorm pummeling the East Coast, the FCC's H block auction is taking another day off.
 
An FCC spokesperson was not available to confirm that snow was the culprit, but the auction is not scheduled to resume until Friday, Feb. 14 and federal government offices are shut down due to the snow, which would include the Gettysburg auction office of the FCC.
 
It will be the second snow day for the auction, which has completed its 71st round, drawing $1.36 billion in bids on 175 of 176 licenses. There were 29 news bids in round 71 as the auction edges toward its aggregate $1.564 billion floor price.
 
It is the first of three spectrum auctions that will culminate in the broadcast incentive auction targeted for mid-2015.
 
The more money the FCC raises, the less pressure there is on the other auctions to pay for FirstNet, the interoperable broadband first responder network the auctions will pay for.

 

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April