Court allows Aereo to auction TV streaming technology assets
(Reuters) – A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, according to court papers published on Friday.
Under the agreement, Aereo will allow the broadcasters to attend the auction of the assets and provide them a weekly update on the status of the sale process.
Aereo filed for bankruptcy in November, five months after the U.S. Supreme Court said it violated broadcasters’ copyrights by capturing live and recorded programs on miniature antennas and transmitting them to subscribers for $8-$12 a month.
That decision effectively closed down New York-based Aereo, whose business model was to offer a less-expensive alternative to cable television.