One of Aereo's key backers appears to have thrown in the towel on the online TV service now that the Supreme Court ruled that it violates copyright law. "We did try, but it's over now," Diller told CNBC's Becky Quick soon after the ruling. Diller said that while the decision wouldn't cause his company, IAC/InteractiveCorp, a large financial loss, the ruling was "a big loss for consumers." The court ruled that Aereo creates a public performance of content that is copyrighted by large media companies, such as broadcasters. NBC News' parent company, NBCUniversal, is among the broadcasting and cable companies that opposed Aereo on copyright claims before the Supreme Court.
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Supreme Court Rules Aereo Is Illegal
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-- CNBC's Becky Quick and NBC News staff