Investors bet $34M that Supreme Court will back Ae

Investors bet $34M that Supreme Court will back Aereo. Aereo has raised $34M in financing just days before the Supreme Court is due to decide on Friday whether it will hear a lawsuit filed by broadcasters who want to shut the company down. With Aereo's backers including media mogul Barry Diller and InterActiveCorp (IACI), the firm streams local-TV signals over the Web for a monthly fee using thousands of tiny broadcast antennae. A legal victory for Aereo would cast doubt over whether pay-TV operators need to pay over-the-air broadcasters for the rights to their programming.

http://www.bloomberg.com/news/2014-01-07/aere...-grow.html