Aereo Settles With Broadcasters for $950,000
Aereo reached a $950,000 bankruptcy settlement with the broadcasters whose TV signals Aereo appropriated for its streaming TV service, a motion filed in U.S. Bankruptcy Court in New York said. The broadcasters, which include ABC, CBS, Univision, WNET and numerous…
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others, had sought $99 million in damages for copyright infringement and attorney’s fees after winning a decision over Aereo in the U.S. Supreme Court last year. In March, Aereo filed a complaint arguing that through a “tortious conspiracy,” broadcasters had kept its assets from selling for their real value (see 1503100073). Aereo’s patents were sold to RPX Corp., a company specializing in defensive patent acquisitions, for $225,000; its trademarks and customer lists to TiVo for $1 million; and portions of its equipment to Alliance Technology Solutions for $320,000, according to court documents. Under the settlement, the broadcasters' claims will be satisfied with Aereo’s payment of the $950,000, Aereo will drop its conspiracy complaint, and all outstanding court proceedings in other jurisdictions will be resolved, the motion said.