Aereo's Assets Sold for Peanuts at Bankruptcy Auction

Aereo, the online-TV service backed by Barry Diller that was found to violate copyright law, garnered less than $2 million for its assets at a bankruptcy auction.

The New York-based company had said it expected bidding of $4 million to $31.2 million. TiVo Inc., which makes digital video recorders, was the winning bidder for the online service’s trademark, customer list and certain other assets, Aereo said. RPX Corp., a patent risk-management company, bought Aereo’s patent portfolio. Information-technology consultant Alliance Technologies acquired some equipment.“We are very disappointed with the results of the auction,” William Baldiga, a lawyer for Aereo at Brown Rudnick LLP, said. “This has been a very difficult sales process and the results reflect that.”