Verizon, AT&T, and T-Mobile lead $ 81 billion 5G spectrum auctions

The nation’s largest mobile carriers topped the Federal Communications Commission’s latest 5G spectrum auction, pushing revenues to a record price of more than $ 81 billion. The FCC on Wednesday released the names and winning bids of the top five bidders for the auction.

Verizon, which bid as the Cellco Partnership, spent the most in the auction, offering $ 45 billion for 3,511 spectrum licenses. AT&T came in second with $ 23 billion for 1,621 licenses. T-Mobile had the third highest bid of $ 9 billion for 142 licenses.

C-band spectrum, which includes 500 MHz of spectrum between 3.7 and 4.2 GHz, has been used by satellite service providers to deliver video programming to cable companies. The FCC began auctioning 280 MHz of the spectrum block in December and ended on January 15. Approximately 200 MHz of the spectrum in this band will continue to be used for television programming.

Wireless experts expected the mid-band spectrum auction to generate a lot of interest. Some had predicted that the prized spectrum could be worth as much as $ 60 billion. But the final tally swept away those forecasts, raising more than $ 81 billion for the U.S. Treasury.

The high price tag and final list of winners underscore the high value that the country’s largest wireless service providers have placed on mid-band spectrum to grow their 5G networks.

5G is the next generation of wireless service, which is expected to increase network speed and make networks more responsive. The technology could help make applications like autonomous vehicles a reality and will bring new AR and VR experiences to smartphones.

Mid-band spectrum, such as C-band, is considered important for 5G deployments because it offers both geographic coverage and the ability to transmit large amounts of data. This combination is particularly appealing to wireless giants who have tried to supplement their spectrum portfolios.

“It is critical to the US economic recovery that we deliver on the promise of next-generation wireless services for everyone, everywhere,” FCC Interim President Jessica Rosenworcel said in a statement. “This auction reflects a shift in our country’s approach to 5G towards a medium-band spectrum that can support fast, reliable and ubiquitous service that is competitive against our global peers. “