http://www.bbc.com/news/business-30151829

Aereo files for protection against bankruptcy.

 Aereo filed for protection against bankruptcy in front of the Supreme Court, which did not help them for it called the company's legality into question. Then they went on to state facts about Aereo stating it is a good company that desires help with these statements: Aereo used small antennas stored in warehouses to capture local TV signals. Subscribers could stream those signals via Aereo for around $8 per month.

 However, cable companies claim that Aereo was using a loophole in the US justice system by transmitting local TV signals and violating their intellectual property. 

In June, the US Supreme Court effectively agreed with those broadcasters - which included CBS, ABC, NBC and Fox - and ruled Aereo's business violated US copyright law.

During this time Justice Stephen Breyer stated that Aereo is no different from any of the other cable companies. "Aereo is not simply an equipment provider... Aereo sells a service that allows subscribers to watch television programs, many of which are copyrighted, almost as they are being broadcast," he wrote.

The company suspended its service in the wake of the ruling.

According to its bankruptcy filing in a New York court, Aereo had assets of $20.5m and debt of $4.2m.