TV Network Stocks Are Loving The Aereo Ruling

Shares of cable network companies, including CBS, Twenty-First Century Fox, and Disney, are soaring after the Supreme Court's decision ruling against Aereo.

CBS shares were up as much as 5% following the ruling, with Disney gaining as much as 1.6% and Fox gaining 2%.

The Court found that Aereo's service violated the copyrights of live network TV stations.

For $8 per month, Aereo let users stream live network TV over the internet to a connected device like a smartphone, tablet, or PC.

This is a huge ruling for the TV industry, and this post will be updated as developments roll in during the day.