Aereo Inc.’s quest to shake up the television industry with its online-streaming service has come to an end.
The Barry Diller-backed startup sought bankruptcy protection after the U.S. Supreme Court said its TV service violated programming copyright protections. The nation’s highest court rang the death knell for Aereo in June, handing a victory to broadcast giants including CBS Corp., Walt Disney Co. (DIS)’s ABC, Comcast Corp.’s NBCUniversal and 21st Century Fox Inc.
Aereo had been striving to revolutionize broadcast TV viewing, offering live and recorded programs via the Internet for as little as $8 a month. The Internet-TV startup’s failure eliminates an alternative to cable and satellite bundles, which can cost $100 a month and include channels many subscribers don’t watch.