AfterDawn: News

Aereo assets sell for measly $2 million in bankruptcy auction

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

Written by: Andre Yoskowitz @ 27 Feb 2015 1:21

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• 1 comment

• qazwiz

  all right.... why the hell did they bundle the properties? the patents for instance likely would have gone for more on an individual basis... especially if they were building blocks patents... one dependent on another which was dependent on a third. just like in the board game monopoly the final one will bid super high if all the others are owned by one person
  
  likewise, physical assets that lesser investors might buy some of can be bundled to get the little bidders out of the way of the big boys... but all that does is reduce the per item price... oftem a deep pockets investor can buy a bundle and flip some or even all of it at a quick profit... sometimes even before they need to more the items
  

  qazwiz is qazwiz everywhere. If you see me say HI!

  27.2.2015 06:08 #1