TV streaming service Aereo files for bankruptcy

Television streaming service Aereo Inc filed for bankruptcy protection after a U.S. Supreme Court ruled in June that the company's business model violated copyright laws.

In a Chapter 11 filing, the company said it would sell assets or reorganize.

According to Reuters, the court said Aereo had infringed copyrights of broadcasters by capturing live and recorded programs through antennas and transmitting them to subscribers for $8-$12 a month.

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