After the third round of bidding, the FCC's 700 MHz auction has raised more than $3.2 billion in provisionally winning bids, which marks a $424 million spike in bidding since the last round. The C Block of spectrum, which has special open access rules attached to it, is now going for $1.49 billion. That figure is still far short of the $4.6 billion minimum pricetag that the FCC set for the block and that Google said it would match. If bidders don't commit to $4.6 billion or more for the block, then the FCC will have to re-auction the C Block possibly without the open access provision.
Meanwhile, the D Block of spectrum, which was set aside for a public-private network that would benefit public safety workers, is languishing. The spectrum block has only garnered one bid for $472 million since the first round of bidding. If the D Block does not go for $1.3 billion or more, then the FCC will re-auction that slice of spectrum with a lower minimum price cap and possibly without the requirement for a public safety network.
The fourth round of bidding begins at 1 PM EST, so check out our live updates on our dedicated 700 MHz auction page this afternoon for more results. Find Round Three information here.