Comcast Corporation Statement on FCC Broadcast Incentive Auction Results
The FCC today announced the results of the Reverse and Forward auctions of its Broadcast Incentive Auction. Comcast Corporation (Nasdaq: CMCSA) participated in both auctions.
In the Reverse Incentive Auction, NBCUniversal Owned Television Stations relinquished spectrum in three of its duopoly markets – New York (NBC - WNBC), Philadelphia (Telemundo - WWSI), and Chicago (Telemundo - WSNS) – and received total proceeds of $481.6 million. In each of these markets, NBCUniversal Owned Television Stations retained the channel with the superior coverage and sold the second station in order to channel share as provided in the FCC’s rules. Once the three relinquishing stations vacate their spectrum, WNBC will channel share with WNJU, WWSI will channel share with WCAU, and WSNS will channel share with WMAQ.
In the Forward auction, Comcast invested $1.7 billion to acquire spectrum in the markets identified in the FCC’s Public Notice. Comcast cannot comment further on the Forward auction results until the FCC’s anti-collusion quiet period ends.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is one of the nation’s largest video, high-speed Internet and phone providers to residential customers under the XFINITY brand and also provides these services to businesses. NBCUniversal operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks and Resorts.