In accordance with the Federal Worker Adjustment and Retraining Notification Act (the “WARN Act”), this notice is to advise you that on November 12, 2014, Aereo, Inc. (“Aereo”) will be permanently shutting down its operations.
Aereo’s business strategy of streaming over-the-air broadcasts to its customers hit a major set back when the US Supreme Court over-ruled earlier lower court rulings that the company was violating copyright laws. It has since ceased all streaming.
TNW received the following statement from Aereo’s Virgina Lam:
In an effort to reduce costs, we made the difficult decision to lay off some of our staff in Boston and New York. We are continuing to conserve resources while we chart our path forward. We are grateful to our employees for their loyalty, hard work and dedication. This was a difficult, but necessary step in order to preserve the company.
We decline to comment further.
➤ Aereo shutting down operations, closing Boston office [BetaBoston]