Iac/Interactivecorp (delisted) (NASDAQ:IACI)
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5 Years : From Jul 2012 to Jul 2017
The Internet TV start-up Aereo Inc., backed by Barry Diller's IAC/InterActive Corp. (IACI), Monday filed a countersuit against a group of broadcasters that allege the online service is illegal and are trying to shut it down.
"We firmly believe that Aereo's technology is lawful. We are confident in the legal process, and we look forward to a prompt resolution of these meritless lawsuits," Aereo said in a statement two days before it is expected to launch in New York City.
Broadcasters including CBS Corp. (CBS), Comcast Corp.'s (CMCSA, CMCSK) NBC Universal, News Corp.'s (NWS, NWSA) Fox and Walt Disney Co.'s (DIS) ABC filed two lawsuits against Aereo earlier this month, asking a New York federal court for an injunction to bar its web-based television broadcasting service.
News Corp. owns Dow Jones & Co., publisher of this newswire, and The Wall Street Journal.
The Aereo service, announced in February, allows viewers to stream broadcast TV signals to personal computers and mobile devices using a network of tiny antennas. Aereo says its services are legal, based on consumers' right to access broadcast television, make copies for personal use and to do so using remotely accessed equipment.
-By William Launder, Dow Jones Newswires; 212-416-3412; email@example.com