http://www.multichannel.com/news/technology/aereo-broadcasters-reach-settlement/389976
Aereo, Broadcasters Reach Settlement
In what will likely be the last chapter of Aereo’s tumultuous history, the
now-defunct provider of Internet TV and cloud DVR services and ABC, Fox, CBS,
NBC and other broadcasters have reached a $950,000 settlement, well below the
nearly $100 million in copyright claims that had been sought.
The settlement, posted here by Deadline.com and dated April 20, still requires
approval by the U.S. Bankruptcy Court for the Southern District of New York. A
hearing has been set for May 7 at 11 a.m. ET, with an objection deadline of May
4 at 5 p.m. ET.
“[T]he Settlement avoids protracted, expensive litigation and is in the
paramount of interests of creditors because it allows for the confirmation of a
Chapter 11 plan,” the joint motion said.
The U.S. Bankruptcy Court for the Southern District of New York approved the
sale of certain assets Aereo on March 11, with TiVo coming away with Aereo’s
trademarks and customer lists for about $1 million. The court also approved the
sale of Aereo’s patents to RPX Corp. for $225,000, and the sale of Aereo
equipment to Alliance Technology Solutions for $300,000.
Of that group, TiVo has already begun to reach out to former Aereo customers,
offering a device bundle featuring its Roamio OTA DVR model and TiVo Stream
sidecar.
Aereo, the Barry Diller-backed startup, filed for voluntary Chapter 11
reorganization in November 2014 and shut down the service in June 2014 in the
wake of a Supreme Court ruling that Aereo's delivery of TV station signals to
subscribers without paying a copyright fee violates the law.