Aereo Auctioning Off Patents And Hardware To Pay Creditors

Business / Tech

Aereo has begun to auction off patents and hardware in an effort to pay its creditors and reduce the amount of money they owe. Aereo hit the news after several large content providers sued the company for capturing and redistributing their broadcast signals to consumers for a low $8 a month fee. A super deal for consumers, but one that wasn’t sitting well with those content providers. While Aereo probably didn’t have the best method of conducting its business, they do have a handful of patents and hardware technology that some companies might find interesting and would want to acquire.

“I wouldn’t be surprised if people show up with open pocketbooks,” Richard Tullo, an analyst at Albert Fried & Co. in New York, said in an interview last week. Dish Network Corp., Verizon Communications Inc. and Apple Inc. may be willing to pay millions of dollars for a piece of the technology, he said.

The company has one approved patent and seventeen pending patents and a whole lot of computer hardware that it is trying to sell. The proposed bidding could start at $4 million with some of the companies creditors calling that too low. It remains to be seen who will step up and bid on Aereo properties, we could see some big names throwing in their dimes but then we might not see them at all. Head over to the source link for some in depth coverage. What do you think about Aereo auctioning off its stores? Let us know in the comments below or on Google+, Facebook and Twitter.

  Source: Bloomberg
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