The FCC implemented "Stage 3" bidding rules for the 700 MHz auction yesterday in an attempt to flush out any remaining bids and quicken the bidding wars on some of the smaller slices of spectrum in the A and E blocks. As part of the third stage of bidding, all bidders must have at least 98 percent of the amount they were qualified to bid with invested in the auction. Since the third stage kicked in yesterday morning, the FCC increased the number of bidding rounds to ten per day. Bids per round increased from less than 10 to more than 20 in most rounds yesterday as a result of the new rules. Total provisionally winning bids stood at $19.58 million after 155 rounds this morning.
For more on the spectrum auction:
- check out our complete 700 MHz auction coverage