Now want to shift over to Millimeter Wave Spectrum.
John Donovan
Sure.
Colby Synesael
So, you recently bought Millimeter Wave Spectrum with your acquisition of FiberTower and recently lost out on a bidding war through Straight Path, do you consider Millimeter Wave Spectrum the next beachfront spectrum and in what function do you expect to utilize the Millimeter Wave Spectrum you received with FiberTower?
John Donovan
Several questions nested in there. Increasingly, spectrum is becoming real estate and it's harder to discern beachfront versus the stuff that you have here in the city that just faces the next building and that is because once you have your coverage layer set, the economics of your footprint get established.
And so now you start to think about what's best for carrying video? What's best for the cheapest equipment the economics and so what's important about Millimeter Wave is it's the launch spectrum for 5G and 5G as a network is the most amazing technology that I've seen in like my whole career maybe IP is on par with it but a few other things and so it was important to us to get spectrum to launch 5G to be in the early 5G game and so that's what FiberTower afforded us the opportunity to get launch spectrum.
Now we're going to want to augment that with some additional spectrum for capacity in Millimeter Wave over time, but there is a spectrum auction planned from the FCC that will be aftermarket opportunities we think as well.
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