Wells Fargo reassesses incentive auction


Wells Fargo SecuritiesAnalysts at Wells Fargo Securities, like many others, at first believed that the FCC had overridden the Greenhill pre-auction station value estimates with its December release on the auction. Now it believes otherwise.

Rather than putting a new set of assumptions on the table, WSG now says the FCC is simply establishing a floor that sets a foundation upon which the auction can proceed to its next level.

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