The struggling Aereo, which closed its Boston offices but refused to actually shut down, is now filing for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
In a company blog post, CEO and founder Chet Kanojia explained:
While we had significant victories in the federal district courts in New York and Boston and the Second Circuit Court of Appeals, the reversal of the Second Circuit decision in June by the U.S. Supreme Court has proven difficult to overcome. The U.S. Supreme Court decision effectively changed the laws that had governed Aereo's technology, creating regulatory and legal uncertainty. And while our team has focused its energies on exploring every path forward available to us, without that clarity, the challenges have proven too difficult to overcome.
It's sad that what promised to be a consumer-friendly and generally pretty terrific service has been driven into the ground by regulation, but then that's the way laws work. So long, Aereo: it was great while it lasted. [TechCrunch]