Fox Stations Getting $350M for Its Spectrum

The group's announcement comes a day after Gray said it will get a $90.8 million payout

Fox Television Stations Wednesday said it expects its take from the FCC’s reverse spectrum auction to hit $350 million.

In an announcement, the group said the amount reflects the FCC’s acceptance of one or more of its bids to relinquish spectrum used by particular TV stations. The deal isn’t expected to result in material changes or operations at the affected Fox stations, it said.

Fox’s announcement comes after the FCC Monday waived its prohibition on communicating bids and bid strategies now that the broadcaster portion of the auction is complete. On Tuesday, Gray Television said it expects its auction payoff to hit $90.8 million.

(Photo via Pictures of Money's FlickrImage taken on Sept. 9, 2016 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)