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Launched in February 2012, Aereo is a technology company based in New York City that delivers over-the-air television programs on Internet-connected devices to subscribers. Backed by Barry Diller's IAC, the technology uses thousands of miniature TV antennas to scoop up the freely available signals of local stations in cities like New York, Boston and Atlanta, and then deliver those signals to smartphones, tablets or computers of paying subscribers. Subscribers pick what to watch through a traditional on-screen guide. They can also record shows and stream them later.

A group of broadcasters sued Aereo in early 2012, before it had even launched in its first market, New York City. The broadcasters asserted that Aereo violated copyright laws by allowing "public performances" of their TV shows. Aereo said it was only enabling private screenings, just like off-the-shelf TV antennas do. The Supreme Court ruled against Aereo in a 6-3 vote on June 25, 2014. The ruling essentially protected billions of dollars in retransmission fees that broadcasters collect for their signals. Aereo said the ruling was a "big loss for consumers who seek alternatives to the cable bundle.

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