The reverse auction proceeds for the U.S. broadcast spectrum is approaching $1 billion.
Sinclair Broadcast Group, which owns 173 TV stations in 82 markets, announced that it expects to receive $313 million dollars for its spectrum. This follows announcements from Fox, Gray and Tribune which will earn a combined $630 million, bringing the total from commercial TV groups to $943 million.
As was the case with the other ownership groups, Sinclair wouldn’t say which stations or markets the spectrum sale affects. “The results of the auction are not expected to produce any material change in operations or results for the Company,” Sinclair said in its statement.
First announced in 2010, and approved by Congress in 2012, the National Broadband Plan Spectrum Auction intends to make “low-band” airwaves available for wireless broadband laying the groundwork for 5G wireless services.