H Block Update: Within $100 Million Of Floor PriceFCC Spectrum Auction Resumes after Presidents Day Off 2/18/2014 6:13 PM Eastern
The H block was back in action after a Presidents Day hiatus. At press time, with the last round of the day (87) completed, almost $1.47 billion had been bid on all 176 licenses (one license had been withdrawn, but was back in play on Feb. 18.
There were only six bids and a total of $1.784 million bid in that round.
The FCC needs only needs a little less than $100 million more in bids to reach its aggregate floor price of $1.564 billion but the auction won't end until there are no more bids or withdrawals or waivers (each bidder get a certain number of chances not to bid but signal that it doesn't want the auction to end).
The auction is the first of three spectrum auctions to raise money for FirstNet, the interoperable broadband first responder network. Then comes an advanced wireless services auction, followed by the broadcast incentive auction.