347 647 9001+1 714 797 8196Request a Call
Call Me

Aereo going to auction soon

December 30, 2014
, ,

Aereo, a startup that captured the over-the-air cable TV and allowed users to watch it on their devices, tablets, PCs and phones for a subscription fee has filed for a Chapter 11 bankruptcy in November 2014 which was approved on December 29th. Aereo will be stripped into parts and sold to the highest bidder in an auction.

Aereo wasn’t paying licensing fees to the content owners and because they were leasing their own unique OTA antenna to each user for content that was broadcast over the air for free, Aereo figured what they were doing was technically not illegal.

But the Supreme Court disagreed. After it said that Aereo was violating the copyright laws, it’s serviced stopped instantly. Manhattan’s US Bankruptcy court Judge Sean Lane signed off on the rules governing the auction along with a caveat: any sale that Aereo does in the meantime has to be approved by the angry broadcasters who shut it down in the first place.

The case concerning the damages to the broadcasters is now in a lower court. Aereo might have to pay millions in damages to the concerned broadcasters.

Broadcasters have 2 weeks from February 24, the day the auction goes down, to decide if they’re ok with the highest bidder to ensure that the bidder wouldn’t turn around and use the technology to infringe again.

Currently there are 17 bidders who are interested in the technology that Aereo has to offer.


About the Author

Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.


Global Association of Risk Professionals, Inc. (GARP®) does not endorse, promote, review or warrant the accuracy of the products or services offered by EduPristine for FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to EduPristine nor is GARP® responsible for any fees or costs of any person or entity providing any services to EduPristine Study Program. FRM®, GARP® and Global Association of Risk Professionals®, are trademarks owned by the Global Association of Risk Professionals, Inc

CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by EduPristine. CFA Institute, CFA®, Claritas® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Utmost care has been taken to ensure that there is no copyright violation or infringement in any of our content. Still, in case you feel that there is any copyright violation of any kind please send a mail to and we will rectify it.

Popular Blogs: Whatsapp Revenue Model | CFA vs CPA | CMA vs CPA | ACCA vs CPA | CFA vs FRM

Post ID = 69167