Dallas, Texas 12/18/2013 (FINANCIALSTRENDS) – Cablevision Systems Corporation (NYSE:CVC) is an S&P 500 index tracked provider of TV content in U.S. It has accumulated a market capitalization of $4.29 billion. The firm has been locked in a protracted legal battle around its defence of allegations of violation of copyright laws by broadcaster Aereo Services. In its efforts to draw public attention and also explain its stand to the general public, the TV content provider has released a detailed fact file aptly named “Aereo and the Public Performance Right”.
Cablevision Systems Corporation (NYSE:CVC) has released the following statement to further stress its stance on this divisive issue, “The broadcasters’ overreaching copyright arguments would, if accepted, cause grave harm to consumers, cloud-based technology and future innovation. In a case about Aereo, the broadcasters go well beyond Aereo and attack the legal underpinning of all cloud-based services, everything from the Apple iCloud to Cablevision’s own remote storage DVR service. In short, the broadcasters are asking the Court to throw the baby out with the bathwater – a move that could cripple cloud-based innovation in the U.S.”
Cablevision Systems Corporation (NYSE:CVC) white paper clearly spells out why it thinks the broadcasters are not right in accusing it of piracy violations. Broadcasters had alleged that Aero has been repeatedly retransmitting content without having a proper license from the content owners. This act of defiance by Aereo has left a whole lot of major television broadcasters upset terribly.
Cablevision Systems Corporation (NYSE:CVC) has been contending that these acquisitions are both “overreaching and damaging” and has been citing well established “principles of federal copyright law” to make its case. The firm has also been voicing out its concern that if the courts accept the theory being put forth by the broadcasters, then the consumers options to leverage new technologies will diminish drastically.