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I seriously hope Old Media is laughed out of court over this... I just have so little faith in our courts or government.
This sounds similar to what Optus are doing here in Australia with their TV Now service, although they are billing themselves as a "remote PVR" rather than "remote antenna". Optus won the initial case, but Telstra and the sport codes lobbied the government for a "review" in to the relevant laws, which is ongoing I believe.

http://www.theage.com.au/business/optus-wins-landmark-web-br...

Building a business on a "loophole" seems to be a highly risky affair. That said, I'm not really familiar with the US law making process so I don't know how long it would take to change it to make what they are doing illegal.

Sounds kind of like the online dvd streaming company www.zediva.com - they had one DVD player per stream, so you were actually "booking" a dvd out, no-one else could watch while you were. Sadly they got sued and shut down, was great while it lasted!
Typical silliness. As long as all applicable fees are paid (and in the case of free over the air tv exactly no fees are applicable, since it is free) they should be allowed to broadcast it in whatever form they like.

Of course it is quite a silly lawsuit in the first place since anybody can get it of the net in the form of a torrent for free.

About 2 years ago I forgot to DVR The Office the night before. I downloaded the episode via BitTorrent. About 3 days later I got an email from Verizon stating that NBC reported my FIOS connection for copyright theft.

I could have watched it with no problems. I could have digitally recorded it in high def and skipped right over commercials with no problems. But by god they will throw a shit fit if I dare download it from the Internet.