Company To Sell Off Its Assets to the Highest Bidder

Goodbye, Aereo: Company To Sell Off Its Assets to the Highest Bidder

Once believed to be a cord-cutters dream, Aereo will conclude its near 8-month-long death rattle as the company sells off its TV streaming technology to the highest bidder in late February 2015. According to The Wall Street Journal, all sales will be overseen by the broadcasters that originally busted up Aereo in the first place.

After the highly publicized court case in June came down with the decision that Aereo's approach to online streaming was, in fact, illegal and violated copyright laws, the decision was then immediately tested against other streaming services, and Aereo shut down the next day. Promises that Aereo wasn't done yet suggested the company might return as a DVR service. But a month later, the company closed its office in Boston and soon filed for bankruptcy.

Despite these murky waters of legality, 17 bidders are interested in Aereo's technology. The Wall Street Journal reports that Aereo believes its tech can be used legally but broadcasters are wary, which is why they'll have two weeks to object to any deal Aereo makes. It's unlikely Aereo will resurrect under another guise considering the broadcasters' strict oversight.

So for Aereo, this is how it endsâ€"picked apart piece by piece. Luckily, it's not a complete dead end for live TV streaming. The internet always finds a way. [The Wall Street Journal/Reuters]