Will broadcasters beat Aereo at its own game?

Networks are crazy with rage over Aereo, a startup that streams live broadcast content. But even as broadcasters are busy filing lawsuits against Aereo, they're also inking Web-streaming deals of their own.

Broadcasters are finally tapping into a potentially massive market, with more eyeballs and more ads. But they were generally afraid to do it until the Aereo threat loomed, argued Bernstein Research analyst Todd Juenger. "History suggests the networks and distributors can come out on top," Juenger wrote, joking that if it works out, broadcasters should "perhaps send a big 'thank you' note to Aereo, for providing the kick in the pants to motivate the industry into action." Juenger draws parallels between Aereo and TiVo, which set off a similar firestorm in 1999: After TV industry titans filed a barrage of unsuccessful lawsuits against TiVo, cable and satellite providers promptly launched DVR services of their own and ended up overtaking the market. So far, the Aereo story is quite similar.