Comcast Corp. said Wednesday it plans to enter the government’s upcoming spectrum auction, showing the cable giant may be serious about another push into the increasingly competitive wireless industry.
While Comcast executives didn’t give details on their plans, analysts said the company could spend several billions of dollars to buy up airwaves being made available for wireless services. The company would be bidding against traditional players like AT&T, T-Mobile and Verizon.
The airwaves are being auctioned off later this year by the Federal Communications Commission, which is repurposing spectrum it once set aside for television broadcasts. The FCC is offering to pay TV stations to go off the air or move their broadcast to free up the airwaves it plans to resell to the highest bidders.
“We are going to evaluate, consider and may purchase, but only if we consider the price is right,” Comcast’s Chief Financial Officer Michael Cavanagh said on a conference call to discuss the company’s earnings results.
Comcast, whose NBCUniversal owns 28 local NBC and Telemundo stations, according to its website, has said it would sell some of its TV licenses in the FCC auction, something that could help pay for the wireless bids.
Comcast won’t be reducing its $5 billion in buybacks if it acquires spectrum in the auction.
