Barry Diller's TV Initiative Aereo Opts for Bankruptcy

A couple of years ago, Barry Diller wanted to break into the video content distribution game. His gimmick was Aereo, a firm which promised streaming TV for gadgets. His trick was to use micro-antennae to capture cable television signals and send them to Aereo users. (The blog techcrunch.com has a useful overview of this initiative.) The cable barons fought back via litigation and won their case before the US Supreme Court.

Recently, Aereo declared a financial no mas and declared bankruptcy. The AP story appears in siliconvalley.com.

The firm is continuing to tout the value of its Internet recording technology, and try to snatch financial victory from legal defeat.