Sinclair and Nexstar have the most spectrum portfolio...
Sinclair and Nexstar have the most spectrum portfolio value as a percentage of equity among broadcasters eligible for the incentive auction, said Wells Fargo analyst Marci Ryvicker in an email to investors Thursday. The valuation is based on the market-by-market…
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price estimates of spectrum in the reverse portion of the incentive auction released by the FCC Wednesday (CD Oct 2 p1). Ryvicker also analyzed the data calculating the value of broadcast spectrum if each broadcaster involved in a duopoly were to put the spectrum of one of its dual channels up for auction while preserving the content through multicasting, as has been done by Sinclair (CD May 30 p1). Ryvicker called the money such a maneuver would generate “hidden spectrum value,” and found that Nexstar and Media General have the highest “hidden spectrum value,” according to the FCC estimates.