FM Auction Closes; 258 CPs Awarded

FM Auction Closes; 258 CPs Awarded
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FM Auction Closes; 258 CPs Awarded

Auction No. 37 has closed. The FCC said 110 bidders won 258 FM construction permits. Many of the winning bidders are new entrants into the radio broadcast market. The auction began on Nov. 3, and closed on Nov. 23, after 62 rounds of bidding.
The auction brought in $147,446,075 in net bids net bids.
"We are in new territory with this groundbreaking auction, introducing new owners into the radio market and bringing increased diversity through new FM radio stations to
cities and towns that have not had their own local stations," said chairman Michael Powell. "By placing small businesses on equal footing with other bidders at the auction stage, our policies ensure that more owners have the opportunity to become pioneers in the dynamic media marketplace."
The FCC plans to hold annual auctions for more FM construction permits over the next several years.
The FM allotments involved in the auction are for cities all over the country such as Hanapepe, Hawaii, Carmel, Calif., Augusta, Kan., Lennox, S.D., and Nassawadox, Va., though most of the permits will be issued for smaller communities in the West. Signal strength of the stations will vary from 3,000 watts to 100,000 watts, based on license class.
After final payments are made and construction permits issued, winning bidders will be given three years to complete building the new stations. The FCC will release a Public Notice detailing the next steps that winning bidders must take to complete the auction process and receive the construction permits.