The Fox TV stations group is set to receive approximately $350 million from the FCC’s reverse auction for broadcast spectrum.
Fox says it will “relinquish spectrum used by certain of its television stations,” though it wouldn’t say which. Fox owns 28 stations in 18 markets–including 9 in the top 10 markets–covering nearly 38 percent of TV homes.
“This spectrum sale is not expected to lead to any material change in the operations or results for Fox Television Stations or for any of the affected television markets,” Fox said in a statement.
Just yesterday, Gray TV, which owns or operates 100 stations in 54 markets, said it expected to earn $90.8 million in the reverse auction. In its statement, Gray was quick to point out the auction “will not lead to job losses.”