Communications, Media, and Internet

Spectrum Auctions

NERA's communications networks and media experts are recognized leaders in spectrum auctions and sales of other communications assets, such as broadcast licenses, sports rights, and corporate asset transfers. We have been involved in dozens of spectrum auctions around the world, working either for government sellers or private bidders, and have an exceptional record of delivering the best obtainable outcomes for our clients.

Our auction experts utilize techniques derived from running and observing many hundreds of auctions, as well as academic research on game theory.  We are familiar with all types of award formats, and our experts have been involved in developing new rules and launching innovative formats, such as the combinatorial clock auction. We also integrate this knowledge with traditional corporate finance methods in order to help bidders develop and execute bidding strategies.

For sellers, we provide support on every aspect of the auction process, from product design and marketing through to detailed bidding rules and software implementation. The types of services that we offer include:

• Auction project management
• Industry modeling and benchmarking
• Product design
• Auction format, bidding rules, and procedures
• Marketing and awareness raising
• Holding consultations and drafting the information memorandum
• Software design, testing, and implementation
• Running the auction

For bidders, we provide advice on all phases of the auction, including:

• Consultation response and rules advocacy
• Bid strategy and client team education
• Competitor analysis and asset valuation
• Auction simulations and practice gaming
• Software to simulate auctions and analyze bidding behavior
• Support with internal governance and logistics
• On-site advice on bid decisions throughout the auction

We offer an inter-disciplinary approach, partnering with network engineers, lawyers, and industry specialists as appropriate to each assignment. Together with our sister company, Oliver Wyman, NERA can also place our auction advice in the context of broader corporate strategy and long-term competitive dynamics. The combined expertise of spectrum economists and management consultants offers our clients a comprehensive and unique service package.