The IAC chairman and major investor in Aereo says he doesn't see a path forward for Aereo if it loses its Supreme Court case.
After months of "not dead yet" declarations, the streaming-TV startup files for Chapter 11 reorganization, the clearest sign that a Supreme Court ruling set it on a road to nowhere.
"The idea of you paying thousands of dollars a year for a package of cable channels that you don't watch doesn't make any sense," Diller said.
A small executive team will be the only ones remaining at the embattled TV-streaming startup, after a Supreme Court ban on its service scared off potential investors.
A judge grants broadcasters' request for a temporary injunction against the embattled video streaming service, which has sought to reclassify itself as a cable provider.
The $300 million cash deal for the struggling information site is expected to close in the next few weeks.
The US Copyright Office says the online-TV startup doesn't qualify -- yet -- for a content license that would let it restart streaming.
The streaming-TV startup's new legal tack embraces the ruling against it, arguing that the decision means Aereo deserves the same copyright license cable companies get.
Chet Kanojia says he'll continue to fight for consumers and innovation after the Supreme Court rules his streaming-TV startup is illegal, but he details no plan.
The US Supreme Court rules against the streaming-TV service, in a 6-3 split opinion that effectively requires Aereo to pay copyright fees or shut down.