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Federal regulators say 104 companies — including, as expected, AT&T ( T ), Verizon Communications ( VZ ) and T-Mobile US ( TMUS ) — have applied to bid on airwaves owned by TV broadcasters, but analysts are still tempering expectations for the auction. While the Federal Communications Commission late Friday released the list of applicants, it was still unclear just which telecom companies are tied to some of the 104 bidding entities. The FCC is expected to release a more detailed list soon. “The more interesting takeaways will evolve as we learn more about the underlying ownership of the bidding entities,” said Michael Rollins, a Citigroup analyst, in a research report. “Initial applicant lists for FCC auctions can be a bit difficult to decipher since many bidders will submit applications through subsidiaries with different names,” Goldman Sachs analyst Brett Feldman wrote in a report. The FCC plans to begin the “Broadcast Incentive Auction” on March 29. The auction, which could last five to six months, will free up an estimated 60 to 80 megahertz of prime, low-frequency spectrum for wireless services. Based on public statements, analysts expect Comcast ( CMCSA ) and Dish Network ( DISH ) to be among the bidders. Cable firm Charter Communications ( CHTR ) is not among the 104 listed companies, but John Malone-controlled Liberty Global ( LBTYA ) is included. Despite speculation that Sprint ( S )-owner SoftBank ( SFBTY ) could take part in the auction, there’s no sign of the Japanese telecom in initial filings. In a report published on Monday, Goldman Sachs estimated phone and cable TV companies may spend only $21 billion in the auction, though other bidders could raise auction proceeds as high as $30 billion. Alphabet ’s ( GOOGL ) Google has ruled itself out, and no Internet companies are in the 104 public applicants, though ties to some bidding entities might exist. A Bloomberg survey has estimated the auction will raise only $33 billion, much less than the $60 billion figure floated by some observers in mid-2015. Citigroup estimates bids could reach $43 billion, however, in the neighborhood of 2015’s “AWS-3” auction, which had 80 listed eligible bidders. Scalper1 News
Scalper1 News