According to a report in Broadcasting & Cable, the FCC’s spectrum incentive auction now generated over $11.5 billion in bids. The FCC will need at least $88,379,558,704 to cover the cost of paying broadcasters for the 126 MHz of spectrum; paying TV stations to move off the spectrum and paying for the auction itself.

The auction is expected to take up to several months before the FCC knows if it can come close to that financial figure. If it does not, the agency will have to lower its spectrum requirement to 114 MHz and resume the reverse portion of the auction. Currently, the FCC is conducting two rounds per day of two hours apiece, 10-12 a.m. and 2-4 p.m., but that number could be increased and the length shortened as the auction progresses as a way to speed the bidding process.