In what will likely be the last chapter of Aereo’s tumultuous history, the now-defunct provider of Internet TV and cloud DVR services and ABC, Fox, CBS, NBC and other broadcasters have reached a $950,000 settlement, well below the nearly $100 million in copyright claims that had been sought.
The settlement, posted here by Deadline.com and dated April 20, still requires approval by the U.S. Bankruptcy Court for the Southern District of New York. A hearing has been set for May 7 at 11 a.m. ET, with an objection deadline of May 4 at 5 p.m. ET.
“[T]he Settlement avoids protracted, expensive litigation and is in the paramount of interests of creditors because it allows for the confirmation of a Chapter 11 plan,” the joint motion said.
The U.S. Bankruptcy Court for the Southern District of New York approved the sale of certain assets Aereo on March 11, with TiVo coming away with Aereo’s trademarks and customer lists for about $1 million. The court also approved the sale of Aereo’s patents to RPX Corp. for $225,000, and the sale of Aereo equipment to Alliance Technology Solutions for $300,000.
Of that group, TiVo has already begun to reach out to former Aereo customers, offering a device bundle featuring its Roamio OTA DVR model and TiVo Stream sidecar.
Aereo, the Barry Diller-backed startup, filed for voluntary Chapter 11 reorganization in November 2014 and shut down the service in June 2014 in the wake of a Supreme Court ruling that Aereo's delivery of TV station signals to subscribers without paying a copyright fee violates the law.