Aereo Auction Raises Less Than $2 Million
Aereo, the OTT-TV/cloud DVR startup that was shut down by the Supreme Court, raised less than $2 million at auction – millions less than what it had hoped to raise through the process.
The auction, which began on Tuesday and wrapped up on Wednesday, essentially sold Aereo for its various parts, including individual technologies and its intellectual property.
TiVo was the winning bidder for Aereo’s trademark, customer lists and certain other assets. RPX Corp., a self-described provider of "patent risk services," nabbed Aereo’s patent portfolio, and Alliance Technologies came away with Aereo’s equipment. Other elements of Aereo’s technology were not sold, but Aereo intends to explore opportunities to sell those assets at a later date, according to a person familiar with the process. A hearing to approve the auction sale is scheduled for March 11.
For the full story go to Multichannel.com.
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