The U.S. Supreme Court ruled against Aereo's effort to stream TV broadcast networks over the Internet Wednesday, and media mogul Barry Diller, a major backer of Aereo, is apparently resigned to defeat for the company.
"We did try, but it's over now,"
Diller told CNBC. The platform would have offered viewers an "alternative to the bundle" of channels provided by cable and satellite companies, he said.
"It's not a big [financial] loss for us, but I do believe blocking this technology is a big loss for consumers, and beyond that I only salute [Aereo CEO and founder] Chet Kanojia and his band of Aereo'lers for fighting the good fight," he said.
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The Supreme Court voted six to three that Aereo violated copyright laws by snagging broadcast signals of CBS, NBC, ABC and Fox on small antennas and transmitting them to subscribers for a charge.
The Supreme Court "made the right call," Reed Hundt, former chairman of the Federal Communications Commission, told CNBC.
"Aereo has very little chance surviving in the business, and Barry Diller got his hands caught in the regulatory cookie jar. You can't use technological tricks to bypass [cable network] rules and regulations."
But Gus Hurwitz, a law professor at the University of Nebraska, says Aereo does have a chance "to work with the broadcast industry, instead of trying to disrupt it,"
The Wall Street Journal reports.
"Aereo would bring a known and trusted brand and working distribution platform to the market and could, conceivably, license content from local broadcasters," he told the paper prior to the decision.
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