Aereo to Auction Off Streaming Assets, Broadcasters Get Approval
The good news is we're almost done with the Aereo stories. According to court papers, Aereo has received permission to auction its streaming video assets. The broadcasters responsible for bringing the startup down, however, will have final approval over all sales.
With no other options left, Aereo will receive bids for its technology on February 20th, with an auction to follow a few days later. The broadcasters will get weekly updates on the process from Aereo, and have a two week period following the auction where they can halt any sale they don't like. The concern is that Aereo's technology could be used in infringing ways by new buyers.
Under the agreement, the broadcasters can also examine Aereo's customer records before they're deleted. This will let the group, which includes CBS, NBC, and Fox, determine any damages owed in future court proceedings.
Engadget reports that Aereo had raised $95.6 million in venture capital funding, and is now down to $3.6 million.
Aereo's business model was to capture over-the-air broadcasts with personal antennae, letting subscribers stream live channels or record programs to a cloud DVR. While the company won several early court victories, a ruling against it in June by the Supreme Court effectively shut it down.
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