The spectrum incentive auction being conducted by the Federal Communications Commission has now generated $9.7 billion in bids, which adjusts down to $9.2 billion with discounts and bidding credits, such as those for minority-owned and female-owned businesses, B&C reports.

“The FCC will need at least $88,379,558,704 to cover the cost of 1) paying broadcasters for their 126 MHz worth of spectrum, 2) paying them to move off that spectrum, and 3) paying for the auction itself,” the report notes.

B&C adds: “It is a marathon, not a sprint, and the auction is expected to take up to several months before the FCC knows whether it can cover that figure or will have to lower its spectrum sights to 114 MHz and resume the reverse portion of the auction. The FCC designed the auction for multiple spectrum clearing targets if the first is not met.”