Legg Mason predicted carriers will face a period when they will d...
Legg Mason predicted carriers will face a period when they will demand more spectrum, leading to active auctions and markets. “We continue to believe that after a period of relative calm that followed the European/U.S. auction frenzy, carriers are…
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getting ready to obtain more spectrum in order to satisfy what they project to be growing demand for data services, speed, mobility, and improved service quality,” the firm said in a report. “There continues to be what we regard as a happy coincidence between (1) remaining industry uncertainty over how great and how rapid the demand for wireless broadband services will be and (2) the fact that the govt. is making spectrum available to industry on a rolling basis, with spectrum coming online in waves rather than all in one batch.” Legg Mason didn’t predict what prices carriers will pay but observed that big city spectrum is bringing in far higher payments than in smaller areas. In recent transactions, operators paid an average of $1.81 MHz/POP for spectrum in the top 10 markets, compared to 94 cents per MHz/POP in the next 46 largest markets.