After a string of setbacks over the past year, which culminated in bankruptcy, Aereo is ending 2014 on a somber note.

The now-defunct streaming startup today secured permission to action off its assets, according to Reuters. The U.S. Bankruptcy Court in Manhattan on Wednesday ruled that Aereo could sell off its streaming TV assets after reaching an agreement with broadcasters CBS, NBC, ABC, and Fox over the sale process.

As part of the agreement, Aereo will allow the broadcasters to participate in the auction and offer them a weekly update on the status of the sale process, according to Reuters.

The ruling comes after Aereo in November filed for Chapter 11 bankruptcy. Five months earlier, the Supreme Court voted 6 to 3 that Aereo violates the Copyright Act, effectively killing the two-year-old service. "Aereo is not simply an equipment provider," the court said at the time.

Aereo let people access programming from broadcast TV channels over the Internet without having to buy or install any equipment. Aereo argued that it was simply providing storage for users' content, like any other cloud service, but the broadcasters said Aereo was violating copyrights and making money off its content.

After the Supreme Court ruling, Aereo tried to unsuccessfully reinvent itself as a cable company, but faced a huge setback when a New York judge in October granted a request from major broadcasters to ban the company from retransmitting live TV broadcasts.

For more, check out our explainer Aereo: Everything You Need to Know.