The reverse portion of the 600 MHz Broadcast Incentive Auction closed on Wednesday, June 29 after 52 rounds. In order for the auction to conclude during the first stage, forward auction proceeds must total $86.4 billion, plus approximately $2 billion to cover auction costs and the broadcaster transition fund. If these costs are not met in Stage 1 of the forward auction, the Federal Communications Commission (FCC) will run additional reverse and forward auction stages at progressively lower spectrum clearing targets until the forward auction yields high enough proceeds to cover the broadcaster payout and auction expenses.
