The ViewPoint

Aereo Files For Bankruptcy Protection

Renee Jones Schneider

Renee Jones Schneider

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






By Tracey Lien

Los Angeles Times

(TNS)

Aereo Inc., the online video streaming service backed by businessman and Television Hall of Fame member Barry Diller, filed for bankruptcy protection on Thursday night, five months after an unfavorable Supreme Court ruling.

The service had allowed subscribers to watch, pause and record live TV on their computers. In June, the Supreme Court ruled that the startup violated copyright law because it was similar to a cable service, but wasn’t paying to transmit copyrighted material. The company argued that it was an antenna service and did not have to comply with copyright law.

The 6-3 decision in the case of ABC vs. Aereo was a blow to the company, forcing it to rethink its business model. Aereo suspended its services three days after the ruling, and earlier this month laid off most of its staff.

Aereo Chief Executive Chet Kanojia wrote on the company’s website on Friday that the ruling has created “regulatory and legal uncertainty,” and “without that clarity, the challenges have proven too difficult to overcome.”

Kanojia said that the Chapter 11 filing will allow Aereo Inc. to maximize the value of its business while avoiding the cost and distraction of litigation.

©2014 Los Angeles Times

Visit the Los Angeles Times at www.latimes.com

Distributed by Tribune Content Agency, LLC

Print Friendly, PDF & Email

Leave a Comment

If you want a picture to show with your comment, go get a gravatar.




Navigate Right
Navigate Left
The official student newspaper of Northeast Community College.
Aereo Files For Bankruptcy Protection