New FM Auction Scheduled for March 7, 2007 -- 124 New Allotments
Today, the FCC issued a Public Notice announcing a new FM Auction to be held on March 7, 2007. This auction, designated Auction No. 70, will offer 124 construction permits for new FM allotments around the country. A copy of the FCC's Public Notice is available here and a list of the 124 available allotments is available here. Please note, this auction is separate and apart from Auction No. 68 which the FCC announced in August, and which offers for sale nine construction permits that remained unsold after two previous FM auctions. Auction No. 68 is slated for January 10, 2007, and a listing of the nine allotments the FCC can't give away is available here.
With regard to Auction No. 70, the FCC's Public Notice solicits comments on the opening prices set for these 124 FM allotments, as well as on the rules that the FCC proposes to use for the auction. Notably, the FCC proposes to not allow the withdrawal of any bids once a round of bidding has closed. Those with auction experience may recall situations from previous auctions where standing high bids were withdrawn in the late rounds of bidding, leaving competing bidders scrambling, and often leaving those permits unsold at the conclusion of the auction. Comments on the proposed opening bids and auction rules are due by October 5, 2006, and replies by October 13, 2006. Once the comment period has run, more information regarding the timing of applications and the submission of upfront money to participate in the auction will be forthcoming.
