Questions could arise as to the business model for Fox and CBS as they have been relying on affiliates to carry their signal in the past.

FORBES: Aereo: The future of TV is here today

If Fox, CBS, or Univision go to a cable-only model, would they have to return their broadcasting licenses back to the FCC or would they be allowed to resell them to third parties?

FORBES: Aereo: The future of TV is here today

For example, a company like Sinclair Broadcasting, which carries 24 Fox affiliates and 11 CBS affiliates (along with another 57 other stations) could be forced to drastically change their business model as over a third of their business turns former partners in potential competitors.

FORBES: Aereo: The future of TV is here today