Broadcasters on Watch Ahead of Aereo Hearing (CBS) (SBGI) (LIN) (GTN)(NXST) (FOXA)

Investors are watching broadcaster stocks ahead of a Supreme Court hearing on Aereo. The hearing is set for 11am today.

Analyst David W. Miller of Topeka said, "This is a very important day for all broadcasters; taking place today at the Supreme Court will be initial arguments between CBS and its broadcasting brethren, and Aereo, the upstart web-based subscription service backed by Barry Diller's IAC Interactive Corp. (Nasdaq: IACI). The Supreme Court will hear the case at 11am EDT. Both sides have 30 minutes to voice their arguments. We want to emphasize that today will be hearings only. A verdict is not expected to take place until mid-late June."

Investors are watching CBS (NYSE: CBS), Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), LIN Media (NYSE: LIN), Gray Television, Inc. (NYSE: GTN) Nexstar Broadcasting Group, (NASDAQ: NXST) Twenty-First Century Fox (NASDAQ: FOXA), and others.

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