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Broadcaster stocks surge on Aereo Supreme Court loss
Broadcaster stocks surge on Aereo Supreme Court loss

Shares of broadcasting companies jumped Wednesday morning after the U.S. Supreme Court ruled against Aereo, a company that streams over-the-air TV signals to its users via the Internet. Broadcasters have long said Aereo violates copyright law and threatens their business by distributing their signals without paying them. Investors responded to the court decision. In midsession trading Wednesday, shares of Hunt Valley, Md.-based Sinclair Broadcasting Group Inc. surged $4.26, or 14.6%, to $33.50 a share on the Nasdaq stock exchange. Nextstar Broadcasting Group, headquartered in Irving, Texas, jumped $6.82, or nearly 16%, to $49.83 a share. Shares in CBS Corp., which has been especially...

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