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Aereo Files For Bankruptcy
In a move that's not at all surprising after the Supreme Court ruling and the recent slate of layoffs, Aereo has announced that the streaming operator has filed for bankruptcy. In a blog post, Aereo CEO Chet Kanojia states that the Supreme Court ruling has "has proven difficult to overcome," and that filing for bankruptcy will allow the company to "maximize the value of its business and assets without the extensive cost and distraction of defending drawn out litigation in several courts":
quote:
While we had significant victories in the federal district courts in New York and Boston and the Second Circuit Court of Appeals, the reversal of the Second Circuit decision in June by the U.S. Supreme Court has proven difficult to overcome. 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.
Aereo had shown some optimism that a new FCC push for rules allowing OTT players to be officially declared cable operators, though by the time the dust settles on those efforts the OTT market will likely be awash with new options and Aereo's window will have closed for good.

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newview
Ex .. Ex .. Exactly
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newview

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All Your Cable Are Belong To Us

This is exactly what happens when you go up against the CableMafia and try to offer a viable alternative and competition to their astronomically high prices and horrendous customer service.