3.45 GHz Auction Hits Reserve Price

The FCC 3.45 GHz auction hit $15 billion after the second bidding round Wednesday, which means it’s now above the $14.77 billion reserve price needed to close the auction. The round was the 40th for the auction. Three more 30-minute rounds are scheduled today.

Analysts raised concerns last week the auction might fail. See our report here. Bidding regained momentum starting Friday and the auction more recently had been expected to close successfully.

“Well, well, well --- looks like the FCC spectrum auction cleared the reserve price. So much for all those calls for its failure, mere days ago,” tweeted LightShed’s Walter Piecyk. Last week, he told us he still expected the auction to be a success.

The FCC and industry groups didn't comment right away.