Bankrupt Aereo pays $950,000 To Broadcasters

“Ask forgiveness, no longer permission” is an outdated adage you’re going to frequently hear from startups that leapt beforehand of their competition by using taking dangers and pushing legal boundaries. The strategy is steadily profitable—just look at Uber, which has flouted local regulations all over the world and is presently valued at greater than $forty billion—however not always. Aereo, a startup that streamed tv to consumers ahead of the U.S. Supreme court docket struck down its industry adaptation, these days has been slammed with a judgment to pay out $950,000 to broadcasters, Bloomberg experiences.

Aereo’s provider streamed reside television to customers in alternate for a month-to-month fee, slicing out the networks and channels whose content material it used to be broadcasting. This didn’t sit down smartly with NBC, Fox, and Disney’s ABC, who speedy sued Aereo after it launched in March 2012. the rest, as they say, is historical past, and and not using a products instead of its tv-streaming flagship, Aereo filed for Chapter eleven bankruptcy final November.

learn our 2012 interview with Aereo CEO Chet Kanojia: A tv Platform So Disruptive everybody’s Suing It.

[by means of The Verge]