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Bankrupt Aereo Will Pay $950,000 To Broadcasters

Bankrupt Aereo Will Pay $950,000 To Broadcasters
[Photo: Flickr user Jan Ramroth]

“Ask forgiveness, not permission” is an old adage you will often hear from startups that leapt ahead of their competition by taking risks and pushing legal boundaries. The strategy is often lucrative–just look at Uber, which has flouted local laws around the world and is currently valued at more than $40 billion–but not always. Aereo, a startup that streamed TV to customers before the U.S. Supreme Court struck down its business model, today has been slammed with a judgment to pay out $950,000 to broadcasters, Bloomberg reports.

Aereo’s service streamed live TV to customers in exchange for a monthly fee, cutting out the networks and channels whose content it was broadcasting. This did not sit well with NBC, Fox, and Disney’s ABC, who quickly sued Aereo after it launched in March 2012. The rest, as they say, is history, and with no products other than its TV-streaming flagship, Aereo filed for Chapter 11 bankruptcy last November.

Read our 2012 interview with Aereo CEO Chet Kanojia: A TV Platform So Disruptive Everyone’s Suing It.

[via The Verge]DL