BIRMINGHAM: Lest you held any lingering hope in your heart of hearts that Aereo would somehow raise from the grave let them be gone. The courts have just given the green-light for the company to be pieced apart and its parts sold to the highest bidder. Aereo is now down to $3.6 million as a result of all the litigation.
A US bankruptcy judge has declared that Aereo can sell off its technology to the highest bidder, but with a few sizably voluminous exceptions, according to Reuters. First off, the broadcasters who coerced the streaming accommodation off the air and into Chapter 11 can oppose any sale they don’t relish. They’ll additionally be sanctioned to analyze Aereo’s customer records afore they’re effaced to determine possible damages in further court proceedings. Interest is genuinely high in Aereo’s tech — despite all the licit quandaries; there are 17 potential bidders for the auction. However, that presents a dilemma for CBS, NBC, FOX and other broadcasters.
On the one hand, Aereo could possibly owe them millions in damages after further litigation, so the group wants to gain the maximum proceeds from the auction. On the other hand, it requires keeping a close ocular perceiver on bids to ascertain that the technology isn’t sold to a company that might turn around and infringe again. As a result, Aereo will be coerced to provide broadcasters weekly updates on the status of the sale and sanction them to attend the auction.
If all goes well, bids will be received on February 20th, with an auction scheduled several days later. While Aereo believes that its patented tech can be utilized in non-infringing ways, broadcasters will have a full two week period after the auction to nix any deals it doesn’t relish. However, Aereo pristinely raised $95.6 million in venture capital, but is now down to $3.6 million as a result of all the litigation — not a lot to spread around.
