Aereo seems to have reached the end of the line.

The startup that sought to stream local broadcast TV stations via the Internet to users’ devices filed for Chapter 11 bankruptcy on Friday and said it would seek to reorganize the company.

“Chapter 11 will permit Aereo to maximize the value of its business and assets without the extensive cost and distraction of defending drawn out litigation in several courts,” CEO Chet Kanojia wrote in a statement posted on the company’s website.

It’s not clear what the company’s next move will be, but Friday’s filing comes months after the Supreme Court dealt a fatal blow to the service after protracted legal fights in several courtrooms. Aereo also moved to lay off dozens of workers in the past several weeks.

“We have traveled a long and challenging road,” Kanojia wrote. “We stayed true to our mission and we believe that we have played a significant part in pushing the conversation forward, helping force positive change in the industry for consumers.”

Tags:


  Save as PDF