VidAngel Submits Plan to Pay Off Millions in Copyright Judgment Case
By Allyson Vannatta, Staff Writer
VidAngel, a filtering service meant to eliminate offensive content, has submitted a plan to pay off millions in copyright right fees.
Over the next 14 years, the company plans to re-pay the money owed.
The studio’s attorney statement said, “With a $62.4 million judgment, VidAngel cannot possibly propose a confirmable reorganization plan, and both VidAngel and the Trustee know that.”
He continued, “The inevitable result of this case will be liquidation.”
In the plan filed Thursday, George Hoffman, trustee, “argued that VidAngel has a viable and growing business, and that allowing it to emerge from bankruptcy – rather than liquidate – would spare 40 jobs.
The plan calls for quarterly payments to the studios involved in the lawsuit which include, Disney, Lucasfilm, Warner Bros., and Twentieth Century Fox.
VidAngel CEO Neal Harmon, released a statement that said the plan will allow them to “turn a page.” He added “We’ve gone from avoiding threats of a shutdown to being able to say, ‘just send us the bill.’”
The company went to federal court last June where a jury found they had, “willfully violated copyright law by streaming hundreds of major studio movies to its customers for as little as $1 a piece,” reports Variety.
The Provo, Utah, based company said they were under the federal Family Movie Act, but the court disagreed. They sided with the studios and declared they can’t buy DVD copies, alter the content and then re-distribute them without the studio’s approval.
VidAngel declared bankruptcy in October 2017 and now describes itself as a “streaming model” where viewers can alter and filter content from popular sites like Netflix and Amazon.
They operate under this banner to attract faith audiences, so they’re able to watch popular television shows and movies without offensive content that’s not family friendly.
VideAngel appealed the judgement in hopes of having the gigantic number that’s in the millions reduced.Do you enjoy articles like this? Click here to become a monthly partner and receive 15 movies for free!