Aereo Settles Broadcasters’ Claims for Penny on the Dollar
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Aereo Inc. agreed to pay CBS Corp. and other broadcasters a total of $950,000 to resolve copyright claims totaling more than $99 million as the online-TV service backed by Barry Diller seeks to wind down in Chapter 11.
The deal to pay less than a penny on the dollar would resolve all litigation among the companies, including Aereo’s lawsuit accusing the broadcasters of intentionally botching its asset auction, according to a filing Monday in federal bankruptcy court in Manhattan.