Andre Yoskowitz
27 Feb 2015 1:21
Aereo, the now-defunct online TV service, saw its assets sell for just $2 million in bankruptcy auction.
The company said it was expecting a low floor price of $4 million so the final results were less than encouraging.
TiVo purchased the company's trademark, customer database and some other assets while RPX Corp (a patent risk-management co.) acquired the company's patents. IT consultant Alliance Technologies purchased some of the antennas. Altogether, the auction had 10 total bidders, below expectations.
"We are very disappointed with the results of the auction," William Baldiga, a lawyer for Aereo at Brown Rudnick LLP, said in a statement Thursday. "This has been a very difficult sales process and the results reflect that."
Aereo used thousands of tiny OTA antennas to stream live TV to subscribers with the ability to DVR. The broadcast giants sued and the case eventually got to the U.S. Supreme Court where Aereo lost. The company filed for bankruptcy about 5 months later.
Source:
BBG