New Street Expects CBRS Auction to Rise More; Hits $831.8M

The citizens broadband radio service auction will likely close at between the $2 billion raised in the 24 GHz auction and the $4.5 billion from the 37, 39 and 47 GHz band sale, New Street’s Jonathan Chaplin told investors. Wednesday's prices indicate an average of 4 cents MHz/POP, Chaplin said. “There is still lots of excess demand, suggesting that prices have a ways to run before we have a clear sense of where they will land.” The two previous auctions “saw prices start to stabilize around the 20th round,” he said: “We would expect the same here.” The FCC is now running three rounds a day and round 20 will come Tuesday, he noted. The auction hit $831.8 million Thursday after 13 rounds as bidding heated up. That's a jump from $775.2 million in the previous round.