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July 30, 2015 1:16 PM ET

Media

Company Overview of Aereo, Inc.

Company Overview

On June 11, 2015, Aereo, Inc. went out of business as per its Chapter 11 liquidation filing under bankruptcy. Aereo, Inc. provides access to broadcast television and other content for members and temporary free users. The company offers a remote antenna, tuner, and remote digital video recorder to access and manage over the air broadcast television signals via the Internet on personal devices, including smartphones, tablets, personal computers, netbooks, and other devices. It serves residents in New York; Boston, Massachusetts; Atlanta, Georgia; Columbus and Cincinnati, Ohio; Indianapolis, Indiana; and San Antonio, Texas. The company was formerly known as Bamboom Labs, Inc. and changed its n...

37-18 Northern Boulevard

Long Island City, NY 11101

United States

Founded in 2010

Phone:

781-863-9991

Key Executives for Aereo, Inc.

Aereo, Inc. does not have any Key Executives recorded.

Aereo, Inc. Key Developments

Aereo, Inc. Agrees to Pay $950,000 to Settle All Litigation Between the Bankrupt Online TV Service and the Broadcasters

Aereo, Inc. agreed to pay $950,000 to settle all litigation between the bankrupt online TV service and the broadcasters. According to an April 20 court filing, Aereo and the broadcasters entered into a settlement agreement regarding the latter's copyright-related claims against the former. To date, the broadcasters have collectively filed 19 claims against Aereo, seeking more than $99 million in damages for copyright infringement plus additional unliquidated amounts for attorneys' fees. The broadcasters have agreed to accept substantially less than their pro rata share of available assets in exchange for Aereo's agreement to pay the broadcasters immediately upon approval of the settlement agreement. The broadcasters have agreed to accept substantially less than their pro rata share of available assets in exchange for Aereo's agreement to pay the broadcasters immediately upon approval of the settlement agreement. As a result of the compromise, Aereo's remaining funds, estimated to be $811,000, will be available for distribution to other unsecured creditors, which filed claims worth about $7.5 million. The agreement is subject to court approval, to be determined during a May 7 hearing in the U.S. Bankruptcy Court for the Southern District of New York.

Aereo Appoints Lawton Bloom as Chief Restructuring Officer

Aereo has hired crisis and restructuring manager Lawton Bloom, a managing director of Argus, to serve as chief restructuring officer.

Aereo Inc. to Lay Off Most of Workers

Aereo Inc. announced that it is laying off most of its workforce and shutting its Boston office. The company announced that 43 employees will be laid off next week in Boston. Altogether, about 60 employees will be let go and about a dozen managers and employees will remain.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 26, 2015
Aereo, Inc., Certain Assets
Bankruptcy
November 20, 2014
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