Verizon is Top Bidder on 5G Spectrum

With a commitment of over $45 billion, Verizon is the top bidder on 5G spectrum according to details from the Federal Communications Commission (FTC).

The FTC has revealed the winners of an $81 billion auction for the license to use important airwaves that are ideal for 5G.

Next to Verizon being a bigger, AT&T had also won big.

Verizon, through its Cellco Partnership, spent nearly $45.5 billion on the airwaves while AT&T, through AT&T Spectrum Frontiers, spent $23.4 billion.

The sums spent by the companies ended up much higher than expectations for the auction last summer.

“These record-breaking results highlight the demand and critical need for more licensed mid-band spectrum and demonstrate the importance of developing a robust spectrum auction pipeline,” said CTIA CEO Meredith Baker.

CTIA is a trade group that represents the wireless industry. Bidders are still under a quiet period, when they are not permitted to publicly comment.

There is 280 megahertz of spectrum available in this auction and is midband spectrum, sometimes called the “goldilocks band.” It is well-suited for 5G networks.

In total, the three biggest U.S. carriers won 90% of the licenses up for auction.

Here are the top five bidders, according to the FCC:

Cellco Partnership: $45,454,843,197
AT&T Spectrum Frontiers LLC: $23,406,860,839
T-Mobile License LLC: $9,336,125,147
United States Cellular Corporation :$1,282,641,542
NewLevel II, L.P.: $1,277,395,688

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.