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AT&T leads bidders at $22.5 billion U.S. Spectrum Auction

Please try another search Economy2 hours ago (Jan 14, 2022 09:35PM ET) © Reuters. FILE PHOTO: The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid/File Photo By David Shepardson WASHINGTON (Reuters) -AT&T Inc led bidders…


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Economy2 hours ago (Jan 14, 2022 09: 35PM ET)

AT&T leads bidders in $22.5 billion U.S. spectrum auction(c) Reuters. FILE PHOTO: The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid/File Photo

By David Shepardson

WASHINGTON, (Reuters) -At&T Inc was the leading bidder in the Federal Communications Commission’s (FCC), 5G spectrum auction. 45 GHz band spectrum, winning $9 billion in bids, the U.S. regulator said on Friday.

The auction generated proceeds of $22.5 billion in total, the FCC said. T-Mobile was awarded $2.9 billion and Weminuche LLC received $7.3 billion. Some analysts and FCC documents indicate that Weminuche LLC bid for Dish. Dish did not respond to Friday’s comment but confirmed that it had submitted in November to be part of the auction.

AT&T (NYSE) declined to comment.

U.S. Cellular won $580 million in bids.

The FCC said over one-third of the top 100 markets have at least four winning bidders, a broader ranger than a prior auction. It stated that the wider range and distribution of winners “will increase competition by providing a diversity wireless carriers with midband spectrum resources necessary to maintain American leadership on 5G.”

” “Enabling commercial usage of this spectrum is important for America’s continued economic recovery and 5G leadership,” Jessica Rosenworcel, FCC Chair, stated.

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