Aereo files for bankruptcy

After losing a case in the U.S. Supreme Court, the challenges for the cloud-based service proved insurmountable.
November 21, 2014

Controversial TV streaming service Aereo has filed for Chapter 11.

On a note posted on its website, Aereo CEO Chet Kanojia blamed “significant challenges from the incumbent media companies” – referring to the successful March 2012 lawsuit by ABC, CBS, NBC and Fox accusing Aereo of copyright infringement. The U.S. Supreme Court’s June ruling that Aereo’s subscription service was accessing content illegally led to its demise.

Aereo users could watch live and time-shifted streams of broadcast TV on their internet-connected devices.

“The U.S. Supreme Court decision effectively changed the laws that had governed Aereo’s technology, creating regulatory and legal uncertainty. And while our team has focused its energies on exploring every path forward available to us, without that clarity, the challenges have proven too difficult to overcome,” Kanojia wrote on the site.

New York City-based Aereo has hired Lawton Bloom of Argus as its chief restructuring officer for the Chapter 11 reorganization proceedings.

Kanojia said he remained proud of Aereo’s accomplishments, which included creating the cloud-based antenna and DVR technology that enabled one to watch TV via the internet.

“In less than two years, we went from drawings on a napkin to launching Aereo’s technology in more than a dozen cities across the country,” he wrote.

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