According to a report in CommLawCenter, the FCC concluded the second stage of the Reverse Spectrum Auction. The FCC set the cumulative buying price for 114 MHz of spectrum at $54,586,032,836, plus the cost of the $1.75 billion repacking fund and the cost of conducting the auction itself. The forward auction in Stage 1 brought in $23 billion. If the bidders don’t reach the $54.6 billion target in the Stage 2 Forward Auction, then the auction will move to Stage 3 and likely into 2017 as well. The $54.6 billion is significantly less than the $88 billion the FCC was targeting in the Stage 1 Forward Auction. The forward auction is expected to start October 19.