Over The Aereo

Streaming Service Aereo Files for Bankruptcy

Broadcast networks were pissed that Aereo let people do this. (Facebook)

Following a series of dramatic court battles this past summer, as well as dozens of recent lay-offs, streaming service Aereo today filed for Chapter 11 bankruptcy.

The service, which is funded by IAC’s Barry Diller, long butted heads with broadcast TV networks, as it used antennae to collect TV signals from the airwaves, and — for $8 per month — let users stream live TV on their Internet-connected devices.

Networks like ABC, CBS, Fox, NBC, Univision and PBS claimed Aereo was violating copyright laws and stealing their content, and proceeded to take the company to court. Ultimately, things didn’t go in Aereo’s favor. Read More

Secondary Markets

SecondMarket’s Still Doing Robust Bankrupcty Business

monthly-claims-traded-october-2011

SecondMarket is most popularly known as a private company equity exchange and indeed, the startup’s fastest-growing business consists of private company stock sales. That would be the Facebook and Twitter and other pre-IPO share shuffling that happens before a company goes public. And of course, a lot of demand is in tech (although PIMCO has traded on SecondMarket before, as has SecondMarket).

But a report out this month reminds us that one of SecondMarket’s most important and perhaps unexpected services involves transactions related to bankruptcy. SecondMarket compiles data about bankruptcy asset transactions and calculated that bankruptcy claims slowed in October.

The company doesn’t say how much revenue comes from bankruptcy claims, but it says the bulk of its revenue comes from fixed income securities such as debt instruments and asset-backed securities. Bloomberg reported that SecondMarket did $400 million in private company shares in 2010 and is on track to do $1 billion. Read More