Aereo CEO on bankruptcy filing: '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' - statement
Walt Disney on Aereo ruling: 'We're gratified the Court upheld important Copyright principles that help ensure that the high-quality creative content consumers expect and demand is protected and incentivized' - via @CNBC
Several of the Supreme Court justices who heard arguments in the broadcast networks case against the online TV site Aereo expressed concern that any decision they pass down would also affect cloud computing - @TheWrap
Aereo was a technology company based in New York City that allowed subscribers to view live and time-shifted streams of over-the-air television on Internet-connected devices. The service opened to customers in March 2012, and was backed by Barry Diller's IAC.
On June 25, 2014, the Supreme Court of the United States ruled against Aereo in a case brought by several broadcast networks. The Court found that Aereo infringed upon the rights of copyright holders. The point of contention was whether Aereo's business model constituted a "public performance", which would legally require it to obtain permission from the copyright owners of any programs it transmits. The court ruled in a 6-3 decision that Aereo's business model was no different than that of a cable television provider, despite the differences in technology. As a result of that decision, their case was returned to the lower Court, and the company announced on June 28 that it would immediately suspend its services while consulting with the Court on how to proceed. Aereo's services were suspended on June 28 at 11:30 a.m. EDT and the company filed for Chapter 11 bankruptcy on November 21, 2014 in the United States Bankruptcy Court for the Southern District of New York. It was later purchased by DVR company TiVo for $1 million in March 2015.