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FCC Ends 5G Spectrum Auction After Raising $4.5 Billion

Aug. 25, 2020, 10:17 PM

The Federal Communications Commission concluded bidding in its latest auction of 5G-friendly airwaves licenses after raising more than $4.58 billion in proceeds.

Bidders won 20,625 of 22,631 of available licenses, more than 91%, in the auction, which kicked off July 23, the agency said. The FCC will release a notice in a few days detailing the auction results and announcing winning bidders, it said.

“I can say unequivocally: It was a resounding success,” Chairman Ajit Pai said in a statement.

Up for grabs was 70 MHz of mid-band spectrum in the 3.5 GHz band. The FCC plans to auction off...

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