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.
Sign up for top Business news direct to your inbox.
Supreme Court Rules Aereo Is Illegal
What Is Aereo and Why Is Everyone Talking About It
Read the Supreme Court's Decision on Aereo
-- CNBC's Becky Quick and NBC News staff
First published June 25 2014, 9:08 AM