Aereo, a Barry Diller-backed startup that provides broadcast television channels over the Internet for a monthly fee, said Tuesday that it has secured $34 million in additional funding from outside investors.
The money will help Aereo expand beyond the 10 metropolitan areas it currently serves. It will also allow Aereo to develop apps for additional devices, such as Internet-connected TVs and game consoles, while battling copyright-infringement lawsuits filed by broadcasters.
The additional funding, announced on the sidelines of the International CES gadget show in Las Vegas, comes from Aereo's lead outside investor, Diller's IAC/InterActiveCorp, as well as several existing and new investors.
Aereo's service starts at $8 a month and currently covers New York, Boston, Houston and Atlanta, among others. Subscribers get about two dozen local over-the-air stations, plus the Bloomberg TV financial More