Verizon Secures 88 % of FCC’s AWS-3 Spectrum Auction, Cementing Mid-Band Dominance

On June 26 2026 the FCC closed its AWS-3 mid-band auction. Verizon bid $3.16 billion for 82 licenses, representing 88.5 % of the $3.57 billion total. The remaining 194 licenses went to T-Mobile, AT&T, SpaceX, EchoStar and Blue Ridge Wireless.

Verizon Accounts for 88 Percent of AWS-3 Auction SpendingVerizon Wins Nearly $3.2 Billion In FCC Spectrum Licenses

The auction was the FCC’s first spectrum sale in four years, authorized by Congress as a transaction to meet rising mid-band demand and fund the “Rip and Replace” program, which reimburses carriers for removing Chinese-origin equipment such as Huawei and ZTE.

Verizon Wins Nearly $3.2 Billion In FCC Spectrum Licenses

Verizon secured the four most valuable licenses—New York, Boston and two Chicago markets—for $1.85 billion, over half of proceeds. T-Mobile’s 102 licenses cost $278 million, AT&T’s ten $121 million, SpaceX’s two $8.5 million, EchoStar’s two $1.2 million, and Blue Ridge Wireless one Gulf-of-Mexico license.

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

The bidders included the three incumbents—Verizon, T-Mobile, AT&T—plus SpaceX, EchoStar and Blue Ridge Wireless. FCC officials administered the auction. Analysts Sam McHugh (BNP Paribas) and Tim Farrar (satellite-industry) provided market commentary, while SpaceX COO Gwynne Shotwell discussed the carrier’s mobile-service plans.

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

The FCC said auction proceeds will fund the “Rip and Replace” program after Congress approved less than needed. Shotwell told investors SpaceX plans a U.S. mobile service and may add a terrestrial network.

Verizon Wins Nearly $3.2 Billion In FCC Spectrum Licenses

Tim Farrar dismissed SpaceX’s possible acquisition of a mobile operator or terrestrial network as a “paper tiger,” arguing it would not leverage the firm’s core satellite strengths. He also warned that mobile-network operators should hold the line on wholesale pricing for Starlink Mobile, recommending low-tens-of-cents per customer per month as a prudent benchmark.

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

Broadband Breakfast reports Verizon’s spend as $3.16 billion, while Pulse2 cites “nearly $3.2 billion.” Both refer to the same 82 licenses, highlighting a lack of precise public reporting on the carrier’s exact outlay.

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

• “we wrote that Verizon should have the most demand for the spectrum of the Big Three, given its relative spectrum holdings, but weren’t convinced they’d bid aggressively as we weren’t sure of their priorities under the new CEO and with a relatively constrained balance sheet,” — Sam McHugh, Senior Analyst, BNP Paribas

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

• “threats to buy a mobile operator or build a terrestrial mobile network seem like a paper tiger, which would do nothing to leverage SpaceX’s ‘core strengths’” — Tim Farrar, Satellite-Industry Analyst

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

• “This is certainly the right time for the MNOs to hold the line on pricing of the Starlink Mobile service, as it will set an advantageous precedent for future D2D services if the wholesale cost for MNOs is in the low tens of cents per customer per month,” — Tim Farrar, Satellite-Industry Analyst

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

• “customers, and could even build a terrestrial network to support it.” — Gwynne Shotwell, COO, SpaceX

Verizon Accounts for 88 Percent of AWS-3 Auction Spending

Verizon is expected to deploy the newly acquired mid-band spectrum to expand 5G capacity in its core markets, while SpaceX’s announced mobile service will proceed pending further regulatory approvals.

Verizon Wins Nearly $3.2 Billion In FCC Spectrum Licenses