FCC raises $4.5 billion in first 5G mid-band spectrum auction

The FCC completed its auction of Priority Access Licenses in the 3550-3650 MHz band. Gross proceeds reached $4,585,663,345, and bidders won 20,625 of 22,631, or more than 91.1%, of available licenses.

“This is a banner day for American leadership in 5G and for American consumers.  The 3.5 GHz auction has concluded, and I can say unequivocally:  It was a resounding success,” said FCC Chairman Ajit Pai.  “The strong demand for licenses was the direct result of this Commission’s reforms to the rules for the 3.5 GHz band—reforms that would not have been possible without the leadership and hard work of my colleague, Commissioner Mike O’Rielly.  This auction has been a key part of our 5G FAST Plan and our ongoing push to make more mid-band spectrum available for 5G.  I look forward to this important spectrum being put to use quickly to provide service to the American people.  And I look forward to the Commission making available 280 more megahertz of mid-band spectrum for 5G in the C-band auction beginning on December 8.”

The FCC will release a public notice in a few days providing detailed auction results, including the names of Auction 105 winning bidders, and announcing deadlines for payments and the filing of long-form applications, as well as other post-auction procedures needed for the prompt issuance of licenses. 

https://www.fcc.gov/auction/105