FCC's 2.5 GHz Auction Over With $427.8M in Bids

The FCC’s 2.5 GHz auction ended Monday, after 73 bidding rounds, hitting net proceeds of $427.8 million. The FCC found winning bidders for 7,872 of the 8,017 licenses offered. New Street’s Phillip Burnett predicted the imminent closing in a Sunday note to investors. “Assuming the auction ends this week, we should get results about a week following close, putting us in the ‘early-to mid-September’ timeframe,” he said.