CBRS Auction at $4.3B 51 Rounds In

The citizens broadband radio service auction bids continue to climb, hitting a net $4.3 billion after four rounds Monday. The auction first hit $1 billion Aug. 3, climbing to $3 billion Aug. 11. New Street said in a Friday note when prices in large urban areas like New York and Los Angeles were close to 50 cents MHz/POP, “demand fell sharply as bidders pulled out of those markets. Many of those bids were then parked in counties where supply exceeded demand, creating a rotation of bids that drove up gross proceeds while leaving aggregate bids little changed.” Four more rounds are scheduled Tuesday.