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Video: Aereo launch irritates TV broadcasters Add to ...

Online television service, Aereo, launches in New York City as the latest threat to cable. Analysts say it's a good option for viewing programs but not yet a replacement for live TV.

Many consumers, facing high cable bills, are looking to cut the cord, dumping traditional cable for some other way to get their favorite shows. Enter Aereo, a new online tv service launching in New York City backed by billionaire Barry Diller's IAC/Interactive Corp.