Auction of 700 MHz Band Licenses Revised Procedure for Auctions 73 and 76; Additional Default Payment for D Block Set at Ten Percent of Winning Bid Amount, 65022-65023 [E7-22501]
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Federal Register / Vol. 72, No. 222 / Monday, November 19, 2007 / Notices
1–800–378–3160 or https://
www.BCPIWEB.com.
Federal Communications Commission.
James D. Bradshaw,
Deputy Chief, Audio Division, Media Bureau.
[FR Doc. E7–22602 Filed 11–16–07; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL COMMUNICATIONS
COMMISSION
[AU Docket No. 07–157; Report No. AUC–
07–73–D (Auctions 73 and 76); DA 07–4514]
Auction of 700 MHz Band Licenses
Revised Procedure for Auctions 73 and
76; Additional Default Payment for D
Block Set at Ten Percent of Winning
Bid Amount
Federal Communications
Commission.
ACTION: Notice.
rwilkins on PROD1PC63 with NOTICES
AGENCY:
SUMMARY: This document announces a
revised procedure for the upcoming
auction(s) of 700 MHz Band licenses
scheduled to begin on January 24, 2008
(Auctions 73 and 76), specifically
setting the additional default payment
percentage at ten percent for the D Block
license, and provides further guidance
regarding negotiation of the Network
Sharing Agreement between the
winning bidder of D Block license and
the new national Public Safety
Broadband Licensee.
FOR FURTHER INFORMATION CONTACT:
Wireless Telecommunications Bureau,
Auctions Spectrum and Access
Division: For legal questions: William
Huber or Scott Mackoul at (202) 418–
0660. To request materials in accessible
formats (Braille, large print, electronic
files, audio format) for people with
disabilities, send an e-mail to
fcc504@fcc.gov or call the Consumer
and Governmental Affairs Bureau at
(202) 418–0530 or (202) 418–0432
(TTY).
SUPPLEMENTARY INFORMATION: This is a
summary of the Auctions 73 and 76
Revised Procedure Public Notice
released on November 2, 2007. The
complete text of the Auctions 73 and 76
Revised Procedure Public Notice, as
well as related Commission documents,
are available for public inspection and
copying from 8 a.m. to 4:30 p.m. Eastern
Time (ET) Monday through Thursday or
from 8 a.m. to 11:30 a.m. on Friday at
the FCC Reference Information Center,
Portals II, 445 12th Street, SW., Room
CY–A257, Washington, DC 20554. The
Auctions 73 and 76 Revised Procedure
Public Notice and related Commission
documents may also be purchased from
the Commission’s duplicating
VerDate Aug<31>2005
20:17 Nov 16, 2007
Jkt 214001
contractor, Best Copy and Printing, Inc.
(BCPI), Portals II, 445 12th Street, SW.,
Room CY–B402, Washington, DC,
20554, telephone 202–488–5300,
facsimile 202–488–5563, or Web site:
https://www.BCPIWEB.com. When
ordering documents from BCPI, please
provide the appropriate FCC document
number, for example, DA 07–4514 for
the Auctions 73 and 76 Revised
Procedure Public Notice. The Auctions
73 and 76 Revised Procedure Public
Notice and related documents are also
available on the Internet at the
Commission’s Web site: https://
wireless.fcc.gov/auctions/73/.
1. The Wireless Telecommunications
Bureau (Bureau) announces a revised
procedure for the upcoming auction(s)
of licenses for services in the 700 MHz
Band scheduled to begin on January 24,
2008 (Auctions 73 and 76). Specifically,
the Bureau sets the additional default
payment percentage at ten percent for
the D Block license. The additional
default payment percentage amount for
licenses in the A, B, and E Blocks
remains at fifteen percent, as previously
announced. The Chiefs of the Public
Safety and Homeland Security Bureau
and the Wireless Telecommunications
Bureau also provide further guidance as
to how they intend to exercise their
delegated authority in the event that
disputes arise during the negotiation of
the terms of the Network Sharing
Agreement between the winning bidder
for the D Block license and the new
national Public Safety Broadband
Licensee.
2. Any winning bidder that defaults or
is disqualified after the close of an
auction is liable for a default payment
under § 1.2104(g)(2) of the
Commission’s rules. This payment
consists of a deficiency payment, equal
to the difference between the amount of
the bidder’s bid and the amount of the
winning bid the next time a license
covering the same spectrum is won in
an auction, plus an additional payment
equal to a percentage of the defaulter’s
bid or of the subsequent winning bid,
whichever is less. In the 700 MHz
Auction Procedures Public Notice, 72
FR 62360, November 2, 2007, the
Bureau set the additional default
payment percentage at fifteen percent of
the defaulted bid for all licenses in
blocks that are not subject to package
bidding, including the D Block.
3. In establishing the percentage used
to calculate the additional default
payment, the Bureau seeks to deter
defaults and thereby promote the public
interest in rapid deployment of new
wireless services. As the Bureau noted
in the 700 MHz Auction Procedures
Public Notice, the public interest costs
PO 00000
Frm 00037
Fmt 4703
Sfmt 4703
of a default on the D Block are likely to
be high given the role of the D Block in
the establishment of a public/private
partnership for the provision of public
safety broadband services. At the same
time, the Bureau recognizes that factors
that may contribute to a default by a
winning bidder for the D Block may be
different in nature from those affecting
winning bidders in other blocks. For
example, the D Block winning bidder
must negotiate and enter into a
Commission-approved Network Sharing
Agreement with the new national Public
Safety Broadband Licensee consistent
with terms and procedures set forth in
the 700 MHz Second Report and Order,
72 FR 48814, August 24, 2007.
4. In the 700 MHz Auction Comment
Public Notice, 72 FR 48272, August 23,
2007, the Bureau proposed adopting a
fifteen percent additional default
payment for the A, B, D and E Blocks.
The Bureau made this proposal with
respect to the A, B, and E Blocks
because the possibility that no licenses
in those blocks will be assigned if the
reserve price is not met may give
bidders an additional incentive to bid
on a license and later default (after
determination that the reserve price has
been met), in order to help ensure that
the reserve price is met and other initial
licenses in the block are assigned. In
contrast, the Bureau made its proposal
with respect to the D Block, for which
there is a single nationwide license
which will not be assigned unless the D
Block reserve price is met, because a
default by the winning bidder will delay
the especially time-sensitive process of
establishing a public/private
partnership for the provision of public
safety broadband services. As noted in
the 700 MHz Auction Procedures Public
Notice, none of the parties responding
to the 700 MHz Auction Comment
Public Notice addressed the specific
percentage for the additional default
payment for licenses in any of the
blocks.
5. On further review, the Bureau
concludes that a slightly lower
percentage should be used for the
additional default payment in the case
of the D Block license. The Commission
must balance the public interest in
avoiding defaults on winning bids
against the risk of deterring otherwise
qualified bidders from participating in
the auction. A winning bidder of the D
Block license may be presented with
unique issues that may result in the
bidder defaulting on its bid. The
potential impact of those issues is
difficult to quantify, and may vary from
bidder to bidder. On further review, the
Bureau concludes that the additional
default percentage on the D Block
E:\FR\FM\19NON1.SGM
19NON1
rwilkins on PROD1PC63 with NOTICES
Federal Register / Vol. 72, No. 222 / Monday, November 19, 2007 / Notices
should be lower than it is with respect
to the A, B, and E Blocks, where the
structure of the auction actually may
provide an incentive for bidders to
default. Accordingly, for the D Block
license the Bureau sets the additional
default payment percentage at ten
percent of the defaulted bid or of the
subsequent winning bid, whichever is
less. While the Bureau remains mindful
that a default could harm the public
interest by delaying the deployment of
service to the public safety community
as well as to consumers, the Bureau
concludes that the ten percent
additional payment used in several
recent auctions serves as a sufficient
deterrent to defaults for the D Block.
6. In the 700 MHz Second Report and
Order, the Commission delegated to the
Chiefs of the Public Safety and
Homeland Security Bureau and the
Wireless Telecommunications Bureau
(Bureaus) the authority to take certain
actions jointly in the public interest in
the event of a dispute between the
winning bidder for the D Block license
and the Public Safety Broadband
Licensee at the end of the six-month
negotiation period for the Network
Sharing Agreement (NSA), or on their
own motion at any time. In particular,
the Commission indicated that these
actions may include but are not limited
to one or more of the following: (1)
Granting additional time for negotiation;
(2) issuing a decision on the disputed
issues and requiring the submission of
a draft agreement consistent with that
decision; (3) directing the parties to
further brief the remaining issues in full
for immediate Commission decision;
and/or (4) immediate denial of the longform application filed by the winning
bidder for the D Block license.
7. The Bureaus believe that it is in the
public interest to provide potential
bidders for the D Block license, as well
as the public safety community, with
further guidance as to how the Bureaus
intend to exercise their delegated
authority in the event that disputes arise
with respect to the negotiation of the
terms of the NSA. As a result, the
Bureaus announce that they will not
exercise their authority for immediate
denial of the long-form application filed
by the winning bidder for the D Block
license, as a result of any dispute over
the negotiation of the terms of the NSA,
until the Bureaus take one of two steps:
(1) Issuing a decision on the disputed
issues and requiring the submission of
a draft agreement consistent with their
decision; or (2) referring the issues to
the Commission for an immediate
decision and the Commission issues
such a decision.
VerDate Aug<31>2005
20:17 Nov 16, 2007
Jkt 214001
Federal Communications Commission.
Gary D. Michaels,
Deputy Chief, Auctions and Spectrum Access
Division, WTB.
[FR Doc. E7–22501 Filed 11–16–07; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL COMMUNICATIONS
COMMISSION
Federal Advisory Committee Act;
Advisory Committee on Diversity for
Communications in the Digital Age
Federal Communications
Commission.
ACTION: Notice of public meeting.
AGENCY:
SUMMARY: In accordance with the
Federal Advisory Committee Act, this
notice advises interested persons that
the Federal Communications
Commission’s (FCC) Advisory
Committee on Diversity for
Communications in the digital Age
(‘‘Diversity Committee’’) will hold a
meeting on December 10, 2007, at 10
a.m. in the Commission Meeting Room
of the Federal Communications
Commission, Room TW–C305, 445 12th
Street, SW., Washington, DC 20554.
Reports from the subcommittees will be
presented. Barbara Kreisman is the
Diversity Committee’s Designated
Federal Officer.
DATES: December 10, 2007.
ADDRESSES: Federal Communications
Commission, Room TW–C305
(Commission Meeting Room), 445 12th
Street, SW., Washington, DC 20554.
FOR FURTHER INFORMATION CONTACT:
Barbara Kreisman, Designated Federal
Officer of the FCC’s Diversity
Committee (202) 418–1600 or e-mail:
Barbara.kreisman@fcc.gov.
SUPPLEMENTARY INFORMATION: At this
meeting, the Diversity Committee will
discuss and consider possible areas in
which to develop recommendations that
will further enhance the ability of
minorities and women to participate in
the telecommunications and related
industries.
Members of the general public may
attend the meeting. The FCC will
attempt to accommodate as many
people as possible. However,
admittance will be limited to seating
availability. The public may submit
written comments before the meeting to:
Barbara Kreisman, the FCC’s Designated
Federal Officer for the Diversity
Committee by e-mail:
Barbara.Kreisman@fcc.gov or U.S.
Postal Service Mail (Barbara Kreisman,
Federal Communications Commission
Room 2–A665, 445 12th Street, SW.,
Washington, DC 20554).
PO 00000
Frm 00038
Fmt 4703
Sfmt 4703
65023
Open captioning will be provided for
this event. Other reasonable
accommodations for people with
disabilities are available upon request.
Requests for such accommodations
should be submitted via e-mail to
fcc504@fcc.gov or by calling the
Consumer & Governmental Affairs
Bureau at (202) 418–0530 (voice), (202)
418–0432 (tty). Such requests should
include a detailed description of the
accommodation needed. In addition,
please include a way we can contact
you if we need more information. Please
allow at least five days advance notice;
last minute requests will be accepted,
but may be impossible to fill.
Additional information regarding the
Diversity Committee can be found at
https://www.fcc.gov/DiversityFAC.
Federal Communications Commission.
Marlene H. Dortch,
Secretary.
[FR Doc. 07–5745 Filed 11–16–07; 8:45 am]
BILLING CODE 6712–07–M
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisition of Shares of Bank or Bank
Holding Companies
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire a bank or bank
holding company. The factors that are
considered in acting on the notices are
set forth in paragraph 7 of the Act (12
U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the office of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than
December 4, 2007.
A. Federal Reserve Bank of St. Louis
(Glenda Wilson, Community Affairs
Officer) 411 Locust Street, St. Louis,
Missouri 63166–2034:
1. Nancy C. Wilson, Memphis,
Tennessee; Charles D. Newell, Jr.,
Germantown, Tennessee; Michael B.
Baird, Cordova, Tennessee; Jon A.
Reeves, Olive Branch, Mississippi; and
Peter T. Hodo, West Point, Mississippi;
to acquire voting shares of Merchants &
Planters Bancshares, Inc., and thereby
indirectly acquire voting shares of
Merchants & Planters Bank, both of
Toone, Tennessee.
E:\FR\FM\19NON1.SGM
19NON1
]]>Agencies
[Federal Register Volume 72, Number 222 (Monday, November 19, 2007)]
[Notices]
[Pages 65022-65023]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-22501]
-----------------------------------------------------------------------
FEDERAL COMMUNICATIONS COMMISSION
[AU Docket No. 07-157; Report No. AUC-07-73-D (Auctions 73 and 76); DA
07-4514]
Auction of 700 MHz Band Licenses Revised Procedure for Auctions
73 and 76; Additional Default Payment for D Block Set at Ten Percent of
Winning Bid Amount
AGENCY: Federal Communications Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This document announces a revised procedure for the upcoming
auction(s) of 700 MHz Band licenses scheduled to begin on January 24,
2008 (Auctions 73 and 76), specifically setting the additional default
payment percentage at ten percent for the D Block license, and provides
further guidance regarding negotiation of the Network Sharing Agreement
between the winning bidder of D Block license and the new national
Public Safety Broadband Licensee.
FOR FURTHER INFORMATION CONTACT: Wireless Telecommunications Bureau,
Auctions Spectrum and Access Division: For legal questions: William
Huber or Scott Mackoul at (202) 418-0660. To request materials in
accessible formats (Braille, large print, electronic files, audio
format) for people with disabilities, send an e-mail to fcc504@fcc.gov
or call the Consumer and Governmental Affairs Bureau at (202) 418-0530
or (202) 418-0432 (TTY).
SUPPLEMENTARY INFORMATION: This is a summary of the Auctions 73 and 76
Revised Procedure Public Notice released on November 2, 2007. The
complete text of the Auctions 73 and 76 Revised Procedure Public
Notice, as well as related Commission documents, are available for
public inspection and copying from 8 a.m. to 4:30 p.m. Eastern Time
(ET) Monday through Thursday or from 8 a.m. to 11:30 a.m. on Friday at
the FCC Reference Information Center, Portals II, 445 12th Street, SW.,
Room CY-A257, Washington, DC 20554. The Auctions 73 and 76 Revised
Procedure Public Notice and related Commission documents may also be
purchased from the Commission's duplicating contractor, Best Copy and
Printing, Inc. (BCPI), Portals II, 445 12th Street, SW., Room CY-B402,
Washington, DC, 20554, telephone 202-488-5300, facsimile 202-488-5563,
or Web site: https://www.BCPIWEB.com. When ordering documents from BCPI,
please provide the appropriate FCC document number, for example, DA 07-
4514 for the Auctions 73 and 76 Revised Procedure Public Notice. The
Auctions 73 and 76 Revised Procedure Public Notice and related
documents are also available on the Internet at the Commission's Web
site: https://wireless.fcc.gov/auctions/73/.
1. The Wireless Telecommunications Bureau (Bureau) announces a
revised procedure for the upcoming auction(s) of licenses for services
in the 700 MHz Band scheduled to begin on January 24, 2008 (Auctions 73
and 76). Specifically, the Bureau sets the additional default payment
percentage at ten percent for the D Block license. The additional
default payment percentage amount for licenses in the A, B, and E
Blocks remains at fifteen percent, as previously announced. The Chiefs
of the Public Safety and Homeland Security Bureau and the Wireless
Telecommunications Bureau also provide further guidance as to how they
intend to exercise their delegated authority in the event that disputes
arise during the negotiation of the terms of the Network Sharing
Agreement between the winning bidder for the D Block license and the
new national Public Safety Broadband Licensee.
2. Any winning bidder that defaults or is disqualified after the
close of an auction is liable for a default payment under Sec.
1.2104(g)(2) of the Commission's rules. This payment consists of a
deficiency payment, equal to the difference between the amount of the
bidder's bid and the amount of the winning bid the next time a license
covering the same spectrum is won in an auction, plus an additional
payment equal to a percentage of the defaulter's bid or of the
subsequent winning bid, whichever is less. In the 700 MHz Auction
Procedures Public Notice, 72 FR 62360, November 2, 2007, the Bureau set
the additional default payment percentage at fifteen percent of the
defaulted bid for all licenses in blocks that are not subject to
package bidding, including the D Block.
3. In establishing the percentage used to calculate the additional
default payment, the Bureau seeks to deter defaults and thereby promote
the public interest in rapid deployment of new wireless services. As
the Bureau noted in the 700 MHz Auction Procedures Public Notice, the
public interest costs of a default on the D Block are likely to be high
given the role of the D Block in the establishment of a public/private
partnership for the provision of public safety broadband services. At
the same time, the Bureau recognizes that factors that may contribute
to a default by a winning bidder for the D Block may be different in
nature from those affecting winning bidders in other blocks. For
example, the D Block winning bidder must negotiate and enter into a
Commission-approved Network Sharing Agreement with the new national
Public Safety Broadband Licensee consistent with terms and procedures
set forth in the 700 MHz Second Report and Order, 72 FR 48814, August
24, 2007.
4. In the 700 MHz Auction Comment Public Notice, 72 FR 48272,
August 23, 2007, the Bureau proposed adopting a fifteen percent
additional default payment for the A, B, D and E Blocks. The Bureau
made this proposal with respect to the A, B, and E Blocks because the
possibility that no licenses in those blocks will be assigned if the
reserve price is not met may give bidders an additional incentive to
bid on a license and later default (after determination that the
reserve price has been met), in order to help ensure that the reserve
price is met and other initial licenses in the block are assigned. In
contrast, the Bureau made its proposal with respect to the D Block, for
which there is a single nationwide license which will not be assigned
unless the D Block reserve price is met, because a default by the
winning bidder will delay the especially time-sensitive process of
establishing a public/private partnership for the provision of public
safety broadband services. As noted in the 700 MHz Auction Procedures
Public Notice, none of the parties responding to the 700 MHz Auction
Comment Public Notice addressed the specific percentage for the
additional default payment for licenses in any of the blocks.
5. On further review, the Bureau concludes that a slightly lower
percentage should be used for the additional default payment in the
case of the D Block license. The Commission must balance the public
interest in avoiding defaults on winning bids against the risk of
deterring otherwise qualified bidders from participating in the
auction. A winning bidder of the D Block license may be presented with
unique issues that may result in the bidder defaulting on its bid. The
potential impact of those issues is difficult to quantify, and may vary
from bidder to bidder. On further review, the Bureau concludes that the
additional default percentage on the D Block
[[Page 65023]]
should be lower than it is with respect to the A, B, and E Blocks,
where the structure of the auction actually may provide an incentive
for bidders to default. Accordingly, for the D Block license the Bureau
sets the additional default payment percentage at ten percent of the
defaulted bid or of the subsequent winning bid, whichever is less.
While the Bureau remains mindful that a default could harm the public
interest by delaying the deployment of service to the public safety
community as well as to consumers, the Bureau concludes that the ten
percent additional payment used in several recent auctions serves as a
sufficient deterrent to defaults for the D Block.
6. In the 700 MHz Second Report and Order, the Commission delegated
to the Chiefs of the Public Safety and Homeland Security Bureau and the
Wireless Telecommunications Bureau (Bureaus) the authority to take
certain actions jointly in the public interest in the event of a
dispute between the winning bidder for the D Block license and the
Public Safety Broadband Licensee at the end of the six-month
negotiation period for the Network Sharing Agreement (NSA), or on their
own motion at any time. In particular, the Commission indicated that
these actions may include but are not limited to one or more of the
following: (1) Granting additional time for negotiation; (2) issuing a
decision on the disputed issues and requiring the submission of a draft
agreement consistent with that decision; (3) directing the parties to
further brief the remaining issues in full for immediate Commission
decision; and/or (4) immediate denial of the long-form application
filed by the winning bidder for the D Block license.
7. The Bureaus believe that it is in the public interest to provide
potential bidders for the D Block license, as well as the public safety
community, with further guidance as to how the Bureaus intend to
exercise their delegated authority in the event that disputes arise
with respect to the negotiation of the terms of the NSA. As a result,
the Bureaus announce that they will not exercise their authority for
immediate denial of the long-form application filed by the winning
bidder for the D Block license, as a result of any dispute over the
negotiation of the terms of the NSA, until the Bureaus take one of two
steps: (1) Issuing a decision on the disputed issues and requiring the
submission of a draft agreement consistent with their decision; or (2)
referring the issues to the Commission for an immediate decision and
the Commission issues such a decision.
Federal Communications Commission.
Gary D. Michaels,
Deputy Chief, Auctions and Spectrum Access Division, WTB.
[FR Doc. E7-22501 Filed 11-16-07; 8:45 am]
BILLING CODE 6712-01-P
