Aereo, the streaming TV service, will shut down — only temporarily, it says — in the wake of Wednesday’s climactic Supreme Court ruling against it.
The court ruling found that Aereo violates copyright law by picking up the signals of local television stations and retransmitting them via the Internet to paying subscribers.
“As a result of that decision, our case has been returned to the lower Court,” Aereo founder Chet Kanojia said in an email message to subscribers on Saturday morning.
“We have decided to pause our operations temporarily as we consult with the court and map out our next steps.”
The “pause” will take place at 11:30 a.m. Eastern on Saturday.
Kanojia said all subscribers (the company has never specified how many it has) will be refunded “their last paid month.”
Kanojia ended his email by saying “our journey is far from done.” And in a subsequent email message to reporters, an Aereo representative said “We want to emphasize that this is a pause, and that the company is not shutting down.”
However, conventional wisdom following Wednesday’s ruling held that Aereo would either have to close up shop or radically change its business model.
Source: CNN Money | Brian Stelter