Financial: Satellite operator lose billions to a private C-band auction

Press Release

On November 18, Ajit Pal, FCC Chairman, informed the congress that instead of permitting satellite operators to sell the C-section band directly to 5G wireless operators, the team would perform an auction of the C-band spectrum.

In more than a year, the C-band Alliance team, who are the satellite operators, the Intelsat, SES, and Telesat, have been trying to influence the Federal Communications Commissions. They have been doing this purposely to sanction a private auction of C-spectrum that aims to gain profit of more than $60 billion.

The proposal of the C-band alliance received a positive reception at the FCC. Pai and Michael O’Reilly have confirmed their support to clear the spectrum by using a market-based approach.

House members and Sen. John Kennedy (R-La) and Chairman of the Senate subcommittee placed urged FCC to take charge of the auction.

Read more at https://www.picayunecurrent.com/satellite-operator-lose-billions-to-a-private-c-band-auction

This post was originally published on Financial Sector

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