Broadcast Stocks Trade Higher In Wake Of Aereo Ruling
This morning the United States Supreme Court ruled against Aereo, a startup that employed myriad, tiny antennas to bring broadcast television to consumers digitally, saying that it operates in violation of the Copyright Act. The startup, which previously stated that it had no ‘Plan B’ in the case of loss , is troubled. CBS is up more than 4% today, as are other parent companies of broadcast networks. Each stock has a similar surge in its price coinciding with the ruling’s timing.
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