AT&T and Verizon spent almost $70 billion on spectrum to improve their 5G Networks

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The highly anticipated results of the FCC Auction 107 are in, with At&T and Verizon spending big on the coveted C-band spectrum.Verizon in particular spent nearly twice as much as AT&T, with a total spend of $45.4 billion.

AT&T’s total bid adds up to $23.4 billion. T-Mobile is in a distant third at $9.3 billion, which was also expected thanks to the strong midband spectrum holdings that the company already had following its acquisition of Sprint.

Whether the new spectrum will help either carrier catch up to T-Mobile remains to be seen.

Ultimately, the new frequencies won’t be available until the end of the year and they will only be available in limited locations first.

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