learningandfinance.com


Science

$19.8 billion airwaves auction may mean better cell service

Share

The U.S. Federal Communications Commission said on Thursday that T-Mobile US Inc, Comcast Corp, Dish Network Corp and U.S. Cellular Corp were among the largest buyers of spectrum in an $19.8 billion broadcast airwaves auction. (NYSE: S) had already said it had enough spectrum and wouldn't participate.

U.S. Cellular said in a securities filing in February it had "submitted bids for a minimum amount of $327 million" in the auction. About 70 percent of USA residents now have smartphones, the agency said.

"Little old T-Mobile walked away with more than any other company, 45% of all the spectrum auctioned", said T-Mobile's CEO, John Legere, in a video released on Thursday.

Some observers had predicted the auction of this valuable spectrum to raise $30 billion or more.

"What is most interesting to us was (Verizon) was nowhere to be found", Jennifer Fritzsche, an analyst at Wells Fargo, said in a research note, adding that "we continue to believe Verizon's interests lay in the higher band spectrum assets". One hundred seventy-five TV stations will get almost $10.1 billion of the auction proceeds, while the US treasury will get $7.3 billion. That's an average of 31MHz of the low-band spectrum nationwide.

No-cell zone: Masters clings to ban on mobile phones
Sitting in the locker room afterward and talking to reporters was an unspoken yet obvious sign of his 23-year run at the Masters. He came agonisingly close but, like Greg Norman, before him he never got to slip the coveted green jacket over his shoulders.

Hardik Pandya's Match Winning Knock Against KKR
The match should be a cracker, with KKR a confident unit at home, and KXIP in tremendous winning form. At one point the hosts were reeling at 119 for 5 when Hardik Pandya joined Nitish Rana in the middle.

Jefferies & Co Issues Price Target With 45.07% Upside On Range Resources Corporation
Noteworthy movements of Stock: Range Resources Corporation's (RRC ) share price has value at $29.47 with last change of -1.44%. With a total market value of $0, Range Resources Corporation has with a one year low of $26.61 and a one year high of $46.96.

A channel-sharing system will help ease the shift, and there will be a 39-month transition period for moving broadcast stations to new channel assignments, the FCC said. A handful of stations may go dark.

T-Mobile has made good on its promise to be the big victor in the 600Mhz low-band spectrum auction spending almost $8 billion to grab what the operator says is 45% of the total TV spectrum on offer. Verizon opted not to bid despite previously committing to the auction.

WWTO, a commercial TV station in Chicago, will receive $304 million from the auction, while two public TV stations in New Jersey will receive a combined $332 million.

Cable and satellite TV providers were among the other big spenders. The incentive auction was approved by Congress in a bill passed in 2012, and the complicated auction process began in March 2016.

"We had expected Dish to be a de minimis player in the auction", he said.

Share