Broadcasting was based on the inability of radio or tv to be individually addressable at the time the physical implementation was worked out. Advertising was therefore used to finance the broadcasters, who sold their audiences to their advertisers. I wonder if the broadcasters are shooting themselves in the foot by denying themselves Aereo's audience. Maybe they could work out a deal where Aereo gives them data on Aereo's users for each broadcast. Then they will have something to sell their advertisers. It might be handy, for example, to view a Miami station's news before I begin my Florida vacation, on my HDTV instead of my smaller monitor.
But why should the public interest or convenience mean anything , when there are monopoly rents to collect?