The story of Aereo may not be long, but it is awfully sad. After losing their Supreme Court case and inevitably closing their offices, the company tried, unsuccessfully, to change directions. With the company out of business, it was just a matter of time before the assets of the defunct company would be sold off.
The expectations for the sale, which concluded this week, were for between $4 million and $31 million. Not an unreasonable set of numbers for a company with servers, antenna farms, television tuners, streaming systems and their patents. Unfortunately, those expectations were not to be, as the entire company's asset portfolio sold for only $2 million - half of the lowest number expected.
Aereo's lawyer William Baldiga said that the company was "very disappointed" with the results. It was definitely an unimpressive showing, with only 10 bidders participating in the bankruptcy auction. TiVo, the new owner of said assets, certainly made off like bandits, having the ability to do as they wish with those patents. The proceeds will be used to pay off some of Aereo's creditors, who, I would imagine, were also hoping for more than the $2 million Aereo received.
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