AWS-3 auction gets off to a slow start

The AWS-3 auction kicked off with around 200 licenses formerly owned by EchoStar on the block. But with three rounds down, it appears that the auction anticipation—particularly around SpaceX’s involvement—has proved bigger than actual operator appetites. Bids totaled $59.3 million at the end of three rounds of bidding, with that number jumping only about $5 million from $54 million at the end of round two. Out of the 200 licenses up for grabs, 99 received interest from more than one participant and another 62 from a lone bidder. The remaining 39 licenses, however, had no bids at all. It’s worth noting that $59.3 million is a far cry from $2.9 billion—EchoStar inked a deal with the Federal Communications Commission when giving up the licenses that it would be on the hook for any shortfall between the auction proceeds and that figure.