Despite a record jump in revenue, Netflix still failed to satisfy investors after announcing today that it had lost more than 800,000 subscribers in the past quarter, and will go into the red during the fourth quarter to pay for international growth.More >>
Online-streaming service Aereo Inc. is temporarily closing down its operation, three days after it was dealt an unfavorable ruling by the U.S. Supreme Court.
"We have decided to pause our operations temporarily as we consult with the court and map out our next steps," Aereo said in a letter to customers posted on its website Saturday.
The Supreme Court dealt Aereo, backed by Barry Diller, a major setback on Wednesday in ruling that the television-over-the-Internet service operates much like a cable TV company. As a result, the service violates copyright law unless Aereo pays broadcasters licensing fees for offering TV stations to customers' tablets, phones and other gadgets.
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