New Hampshire residents might be interested to learn that TiVo is set to purchase assets from an online startup company called Aereo. On March 13, TiVo announced that it had received approval from the U.S. Bankruptcy Court in Manhattan to buy Aereo’s customer lists, trademarks, patents and hardware.
In November, Aereo filed for Chapter 11 bankruptcy after the U.S. Supreme Court ruled that it had violated copyright laws. The company offered a service that allowed viewers to stream broadcast television channels through their mobile devices for $8 a month. For a monthly fee that was cheaper than cable TV, customers could watch shows live or record them for later viewing. Ultimately, the Supreme Court ruled that Aereo was offering the same services as a cable TV company without paying broadcasters licensing fees.
The President and CEO of TiVo Inc. said that the purchase of Aereo’s assets would enable TiVo to better serve their customers. He said that the purchase would help them to provide customers with better access to broadcast television as well as over-the-top content. Over the past year, shares in TiVo have gone down by over 15 percent.
Following an expensive lawsuit or court ruling, it is sometimes in a company’s best interests to file for bankruptcy. Chapter 11 bankruptcy may allow a company that is in debt to restructure their debts and eventually emerge from bankruptcy. Before seeking debt relief, a business owner might want to discuss the various forms of bankruptcy with an attorney. An attorney may also be able to help guide a company through the bankruptcy process and help the company to develop a plan to emerge from bankruptcy.
Source: U.S. News & World Report, “TiVo receives bankruptcy court approval to acquire Aereo’s trademarks and customer lists,” March 13, 2015
