Aereo aims to eat US broadcasters’ lunch

Barry Diller, the billionaire media mogul who is backing the startup Aereo TV service, said it expects to reach between 25 and 30 per cent of the US television audience with the wireless service that broadcasters say undermines the economics of their business.

On April 1 a federal appeals court denied a motion by major media companies to shut down Aereo, which uses large numbers of TV antennas to capture broadcast signals for its subscribers, who do not want to pay cable and satellite operator’s higher cable fees.

via Business feed http://www.scmp.com/business/companies/article/1226576/aereo-aims-eat-us-broadcasters-lunch