Aereo is now down to $3.6 million as a result of all the litigation.

On the one hand, Aereo could possibly owe them millions in damages after further litigation, so the group wants to gain the maximum proceeds from the auction. On the other hand, it needs to keep a close eye on bids to make sure that the technology isn't sold to a company that might turn around and infringe again. As a result, Aereo will be forced to provide broadcasters weekly updates on the status of the sale and allow them to attend the auction.

If all goes well, bids will be received on February 20th, with an auction scheduled several days later. While Aereo believes that its patented tech can be used in non-infringing ways, broadcasters will have a full two week period after the auction to nix any deals it doesn't like. However, Aereo originally raised $95.6 million in venture capital, but is now down to $3.6 million as a result of all the litigation -- not a lot to spread around.

[Image credit: AP Photo/Bebeto Matthews]