Reverse Incentive Auction Webinar – December 19th

I’ll be moderating a valuation panel discussion as part of a three hour webinar on the FCC’s Reverse Incentive Auction process. Here is a link to the site describing the event: :

Incentive Auctions: What Broadcasters Need to Know

  • A 3 Hr. a Video Virtual Event (Webinar).
  • December 19th starting at 8:45 AM EST

The discussion will focus on challenges facing the television broadcasters as they decide whether to participate in the auction and how to calibrate their bids for optimal results. Participants will discuss the requirements in the Spectrum Act, the FCC’s recent Notice of Rulemaking Proposal (NPRM) as well as unresolved legal issues. Other panels will include a discussion of valuation and policy issues facing broadcasters.

As a virtual event there is a charge of $150 to attend, however government employees (this means you Congressional staff, FCC, NTIA etc.) should email me for free or per diem rates as needed.  3 hours of CLE credit are also available.


8:45 AM – 9:00 AM Introduction – Opening Remarks:

  • Harold Furchtgott-Roth, Former FCC Commissioner (Opening Remarks)
  • Barlow Keener, Keener Law Group (Introduction)

9:00 AM – 10:00 AM        Legal Perspective:

The Rules of the Auction Process

The opening panel will provide an overview of critical elements of the broadcast incentive auction as well as unsettled issues in the FCC’s recent NPRM. It will compare the upcoming reverse incentive auction with prior FCC auction processes. The panel will also discuss legal appeal process for the reverse incentive auction and potential pitfalls auction participants should consider.

  • Rebecca Hanson                 FCC
  • John Hane                           Pillsbury Law
  • Brian Madden                     Lerman Senter
  • Marty Stern                          K&L Gates

10:00 AM -11:00 AM        Valuation:
Valuing The Reverse Auction Assets and Related Business Issues

The second panel will build on the legal explanation of the first panel. It will consider how the auction process and other factors will impact auction valuations and broadcasters decisions to participate. Panel topics will include general auction valuation expectations, variations in spectrum value by type of broadcaster and geography, and valuation considerations for broadcasters to consider when participating in the auction.

  • Coleman Bazelon                Brattle Group
  • Mark Fratrik                         BIA / Kelsey
  • Major Investment Bank      (Invited)
  • J. Armand Musey               Summit Ridge Group


11:00 AM – 12:00 PM      Policy Perspective:

Important Social, Political and Economic Policy Implications

Our final panel will step beyond strict legal and economic considerations and evaluate the FCC’s goals versus those of the television broadcast industry. The panel will discuss issues including implications for news access in rural areas, implications for other FCC license holders, and other policy concerns.

  • Preston Marshall                Univ. of S. California
  • Fred Campbell                     CLIP
  • Trey Hanbury                      Hogan Lovells
  • Barlow Keener                    Keener Law Group

As you can see, we have gathered leading experts in the legal, financial and policy files to discuss the implications of the FCC’s upcoming television broadcast incentive auction on the television broadcasting industry.

I am looking forward to your participation.

J. Armand Musey, CFA