H Block Update: $1.31 Billion BidNew York Has Remained at $216.9 Billion for Past 30 rounds 2/11/2014 4:17 PM Eastern
After 64 rounds of bidding, the FCC's H Block auction has drawn a total of more than $1.31 billion There were only four new bids this round, down from nine in the round before. One of the 176 licenses up for auction has no bid after its single bid was withdrawn last week.
Not surprisingly, the top market, New York, has drawn the top bid of $216.9 million but it has appeared to top out at that figure, with no new bids since round 24.
The H block is one of three wireless spectrum auctions mandated by Congress and culminating in the mid-2015-targeted broadcast incentive auction.
The auction has to raise at least $1.564 billion in aggregate, but Dish has pledged that the auction will raise at least that much, a deal it struck in exchange for a waiver on adjacent spectrum that it said was the quid pro quo for it being able to bid at all.