Citing Its Supreme Court Defeat, Aereo Files for Bankruptcy
In June 2014, the tech start-up Aereo, which advertised itself as allowing paid users to "watch live TV online," lost big in a copyright case at the U.S. Supreme Court. Today, in response to what company founder Chet Kanojia called the "regulatory and legal uncertainty" created by the Court's decision, Aereo filed for bankruptcy. "While our team has focused its energies on exploring every path forward available to us," Kanojia announced, "without that clarity, the challenges have proven too difficult to overcome." It is the final nail in the coffin.
For the full story of how the Supreme Court came to squash Aereo and its vision for the future of television, see my recent feature story "The Rise and Fall of Aereo." For more on the case, click below to watch Reason TV's "Aereo, the Supreme Court, and the Future of Television."