Looks like this could be incredibly disruptive in the cable provider space. Lots of capital behind the concept of consuming free broadcasts and then reselling to users.... Big Cable is going to fight this like Hell.
IAC's Areo has encountered a ton of backlash and lawsuits (e.g. http://techcrunch.com/2012/03/01/aero-lawsuit-see-you-in-court/). Clever loophole. :)