“Networks Slam Aereo’s Plans To Shop Infringing IP”
Broadcast networks that persuaded the U.S. Supreme Court to shut down television streaming service Aereo Inc. objected on Monday to the bankrupt startup’s plans to sell its technology, saying that they could be left unable to collect on an impending copyright damages award.
In an objection filed in New York bankruptcy court, a who’s who of the nation’s major broadcast networks took issue with the proposed auction of intellectual property assets, which Aereo has pitched as the only way to dig up value for creditors with its flagship service off-line.
The networks — NBCUniversal Media LLC, CBS Broadcasting Inc., Twentieth Century Fox Film Corp. and others — want the bidding procedures overseen by the same federal court handling their copyright litigation. They say that the auction threatens to strip their claims under Section 363 of the U.S. Bankruptcy Code, which lets buyers purchase assets free and clear of previous liabilities.
The broadcasters are represented by Patrick J. Trostle, Catherine Steege, Richard L. Stone, Julie A. Shepard and Amy M. Gallegos of Jenner & Block LLP, Bruce P. Keller, M. Natasha Labovitz and Michael Potenza of Debevoise & Plimpton LLP and Michael V. Blumenthal and Jennifer A. Christian of Thompson & Knight LLP.