TiVo has acquired the assets of Aereo, the Internet startup that gave broadcasters a scare with its plan to deliver TV content via tiny antennas before legislative hurdles crushed that plan.
CNN reports that the acquisition was approved Thursday by a U.S. Bankruptcy Court in Manhattan. The decision finalizes the Feb. 24 sale of Aereo’s patents, hardware and other assets.
Said Tom Rogers, president and CEO of TiVo: “TiVo has always innovated to meet the constantly changing ways TV audiences choose to access content. This strategic acquisition of Aereo’s trademarks and customer lists will enhance our ability to serve the growing segment of consumers who want access to both broadcast television and over the top content. TiVo has found success in providing a more comprehensive offering and sophisticated user experience than any other player in the marketplace and we look forward to expanding on that success.”
TiVo reportedly purchased the assets for $1 million. DC Inno reports that the company plans to get former Aereo customers to sign up for TiVo services.
“The same people who were keen on Aereo’s online streaming of television broadcasts will likely want to keep up their cable cord-cutting,” DC Inno notes. “Now that TiVo has Aereo’s customer lists, it can offer those customers its own DVR services that mimic what Aereo offered, albeit not quite as cheaply. Even just a few customers switching over to TiVo would make this purchase worthwhile.”