Aereo to pay broadcasters $950,000 for copyright claims

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Aereo to pay broadcasters $950,000 for copyright claims

As if the situation couldn't get worse for Aereo, the defunct TV streaming service is now set to make a payment to the broadcasters responsible for its downfall. And, all things considered, it's getting off quite easy. According to Bloomberg Business, Aereo has agreed to pay CBS and other television networks $950,000 to resolve copyright claims, although the damages are said to total over $99 million. Simply put, Aereo's only expected to compensate for a little less than a penny on the dollar, a deal that was agreed upon by all parties involved.

"In the absence of settlement, there is a likelihood of expensive, protracted litigation that will likely consume the debtor's limited remaining funds," Aereo said in a federal bankruptcy court filing. A judge is expected to approve the settlement next month, on May 7th -- which will add yet another nail in Aereo's coffin.

[Image credit: Getty Images]
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