TV-on-Internet service Aereo gets $34M in funding

Jan 08, 2014

Aereo, a Barry Diller-backed startup that provides broadcast television channels over the Internet for a monthly fee, says it has secured $34 million in additional funding from outside investors.

The money will help Aereo expand beyond the 10 metropolitan areas it currently serves. It will also allow Aereo to develop apps for additional devices, such as Internet-connected TVs and game consoles, while battling copyright-infringement lawsuits filed by broadcasters.

The additional funding was announced on the sidelines of the International CES gadget show in Las Vegas.

In an interview, CEO Chet Kanojia says the two new investors will be able to offer Aereo advice and contacts: Gordon Crawford is a veteran media investor, while investment firm Himalaya Capital offers international experience as Aereo explores markets beyond the U.S.

Explore further: How does Uber's surge pricing work – and how ethical is it?

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Underfire Uber ramps up rider safety

14 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

15 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

19 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.