Comcast Corporation Statement on the Spectrum it Sold and Purchased in the FCC’s Broadcast Incentive Auction
Comcast Corporation (Nasdaq: CMCSA) today issued the following statement after the conclusion of the quiet period associated with the FCC’s Broadcast Incentive Auction.
"We are very pleased with the outcome of the FCC’s Broadcast Incentive Auction. In the Reverse auction, NBC sold spectrum at attractive prices in New York (NBC - WNBC), Philadelphia (Telemundo - WWSI), and Chicago (Telemundo - WSNS) and will receive total proceeds of $481.6 million. Additionally, with the purchase of $1.7 billion of spectrum that covers 88 percent of our footprint and most of the footprint of each of our top 25 markets, Comcast made a strategically compelling investment at historically low prices. We have no current plans for the acquired spectrum and note that the spectrum will not be cleared by the FCC and available for use for several years. The launch and growth of our Xfinity Mobile product is not dependent on this purchased spectrum."