Aereo Files for Bankruptcy and (Almost) Declares DefeatBy
Aereo filed for Chapter 11 bankruptcy protection on Thursday, in a move that was likely inevitable from the moment five months ago that the Supreme Court ruled the Internet television startup violated broadcasters’ copyrights with its plan to use miniature antennas to send their signals over the Internet. This could well spell the end of the company, and Chet Kanojia, Aereo’s chief executive and largest shareholder, is now talking about the company in the past tense. “We are incredibly grateful to have gone on this journey together,” he wrote on Aereo’s website. But Kanojia apparently is still holding out some hope of emerging from bankruptcy as a sustainable company.
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