In the wake of a Supreme Court decision that effectively rejected its business model, the startup streaming service Aereo appears to be starting the process of shutting down.
The company sent a letter to its Boston development office informing the staff there that it will shut down business operations as of Nov. 12, reports Engadget.
Aereo lost a Supreme Court case in June, which effectively shut down its service, and also lost a later District Court ruling, the story notes.
“In the letter the company says it has been pursuing the possibilities of an acquisition or additional outside investment, but after the most recent loss October 23rd, that was just impossible,” the article notes.
The company “has been on life support” ever since the Supreme Court ruling, notes Deadline.com. In addition to the Boston office closing, Aereo is cutting staff in New York.
The Deadline report adds: “However, [Thursday’s] layoffs of 43 employees in Boston and others in NYC do not mean Aereo is totally dead. CEO and founder Chet Kanojia and other top execs will keep the lights on. But with the downward spiral turning into a free fall, the end of Aereo might be just a matter of when not if at this point.”