Court documents from Friday show Judge Sean Lane of the US Bankruptcy Court in Manhattan will allow Aereo to auction off its TV streaming technology with a few notable caveats.
The now defunct tech company first reached a deal with broadcasters—CBS Corp, Comcast Corp’s NBC, Walt Disney Co.’s ABC, and Twenty-First Century Fox Inc’s Fox.—to make the potential sales possible. According to Engadget, Aereo will allow the broadcasters to attend any auction, to oppose any individual sales, and to examine Aereo’s customer records. Aereo will also provide the broadcasting group weekly updates on the status of the sale process.
The Wall Street Journal reports that despite looming litigation, there is interest in Aereo’s technology from at least 17 prospective bidders. The paper notes bids are due Feb. 20, and if multiple bids are received, an auction will be held Feb. 24 at the New York office of Brown Rudnick, the law firm handling Aereo’s Chapter 11 case. After that, a final hearing to approve any sales would take place in March.
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