Aereo, in its last attempt to make some last minute money before it completely closes, is said to be auctioning off the technology behind its popular Web TV service.

For those who haven't been able to stay up to date with news about the company, Aereo faced a massive problem last June 2014 when the United States Supreme Court made a ruling that the Web television service it offered, which allowed consumers not only to watch TV programs via the Internet and their mobile devices but also to record them, were in violation of the copyrights of the programs' broadcasters.

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As the Wall Street Journal has cited, this has then resulted in the company having to deal with bankruptcy. However, the tech and entertainment company was allowed to sell the same technology that led to its downfall, given that it will not be used in such a way that broadcasters' copyrights will be violated.

Almost a hundred million dollars was raised by Aereo through various other companies, including IAC/InteractiveCorp, First Round Capital, FirstMark, High Line Venture Partners, Highland Capital Partners, SV Angel, and Lauder Partners. However, most of the money that it was able to raise was used in the legal battle it was pulled into.

But the company has more to lose, especially in terms of the funds that it was able to raise. According to Engadget, Aereo may be penalized and would have to pay the broadcasters whose copyrights have been violated.

To make matters even worse, after more litigations, the then-Web TV service provider could be facing millions and millions of dollars in fines. This is the main reason as to why the firm thinks that it would be best to auction off the technology that went behind its popular service. It just needs to make certain that the company it will be sold to will not make the same mistake.

TagsWeb Tv Service, Web TV, Web TV Aereo, Aereo Web TV, Aereo Web TV News, Aereo Web TV Auction, Aereo Web TV Auction News