/// That Was Fast: Big Media Investors Are Okay With Aereo, After All
Remember Thursday? When investors in big TV companies freaked out a bit about Aereo? That’s all old news now: All the big media companies that took hits yesterday — Comcast, Viacom, Disney, etc. — are trading back where they were on Wednesday, before Barry Diller and his Web video start-up won a legal victory . So which group got it right? The sky-is-kinda-falling folks who sold media stocks yesterday morning? Or the “What, me worry?” camp that bought them up yesterday afternoon and today? Insert professional shrug here. The big-TV versus Aereo case is just starting — this week’s ruling was simply a decision not to shut the company down while the trial moves on — and is likely to drag on for years. Investors don’t like uncertainity, but they’re kind of okay with uncertainity that won’t affect the near-term future. So that’s probably the best explanation for keeping things status quo, share-price-wise. But just for giggles, let’s pretend that Aereo ends up definitively winning its legal argument: That it can sell access to broadcast-TV programming without paying broadcasters
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