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Aereo parted out for peanuts in $2M bankruptcy auction

Feb. 26, 2015 7:14 PM ETTiVo Corporation (TIVO) StockDIS, TIVO, CMCSA, RPXC, FOXA, PARABy: Jason Aycock, SA News Editor
  • Aereo -- the streaming-TV service that cratered after it lost to broadcasters before the Supreme Court last summer -- hoped to get $4M-$31M at its bankruptcy auction, but were picked clean for less than $2M total by 10 bidders.
  • TiVo (NASDAQ:TIVO) picked up Aereo's customer list and trademark, and patent risk-management company RPX (NASDAQ:RPXC) got the patents. "We are very disappointed," said Aereo lawyer William Baldiga.
  • Meanwhile in the key litigation, a lower court is determining how much in damages Aereo owes angry broadcasters (DIS, CBS, FOXA, CMCSA), and it's likely to be in the tens of millions of dollars.

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