Aereo files for bankruptcy

  • Aereo, the streaming service taken to the Supreme Court of the United States by major broadcasters, filed for bankruptcy in New York last night. 
  • Aereo allowed users to view live and time shifted transmissions of over the air broadcast channels. 
  • In website posting, Aereo said Supreme Court ruling changed the laws that governed Aereo's technology and that 'the challenges have proven too difficult to overcome'. 
  • Chet Kanojia, Aereo CEO: 'Chapter 11 will permit Aereo to maximize the value of its business and assets without the extensive cost and distraction of defending drawn out litigation in several courts'. 

Aereo letter to customers