An FCC auction of 122 FM construction permits ended late Tuesday ...
An FCC auction of 122 FM construction permits ended late Tuesday with total net bids of $5.25 million, far short of the take for previous similar commission auctions (CD Sept 14 p11). In Auction No. 79, 37 permits, or…
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30 percent of the total, didn’t receive the minimum bid and so won’t be auctioned. “Those who predicted lack of enthusiasm” (CD Sept 8 p7) “were proven correct,” lawyer Raymond Quianzon wrote on the blog of Fletcher Heald, representing clients who participated. Half the 122 permits got no bids or only the minimum bid, he added. The commission likely will re-auction in a few years the 37 permits the agency held back because of lack of interest, Quianzon wrote. But the last permit bid on went for $191,000, versus the $1,500 upfront payment, noted lawyer John King of Garvey Schubert Barer, also representing participants but not for that permit in San Isidro, Texas. “Bidding has been spirited where parties have explored the potential for an upgrade,” he told us, “so if past is prologue, the bidders on San Isidro see such an upside.”