Dylan Love writing for Business Insider on the fate of Aereo, the startup television streaming company.
The long-awaited ruling on TV-streaming company Aereo is in. In a 6-3 decision, Supreme Court justices ruled that the company’s operation is illegal. The decision will effectively end Aereo. CEO Chet Kanojia has previously said that there is “no plan B”
We believe in our merit and we do think it’s the right thing. Progress is important. The mission of this company was to try to create an open platform, to try to wedge the system open a little bit. And if we don’t succeed in that despite our best efforts, good law on our side, and the merits of our case, it will be a tragedy but it is what it is.
Investors just kissed $100-million goodbye.