Summary Box: Startup sends TV to the iPhone

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THE VISION: A startup backed by media billionaire Barry Diller has launched a service that sends live local TV feeds to iPhones and iPads.

THE CAUTION: The service may be short-lived, as TV stations are likely to challenge its right to use their broadcasts.

THE DETAILS: The service, Aereo, launched in New York this week, but it is available only by invitation. It hopes to broaden access to more people next month, and then launch in other cities. Subscribers pay $12 per month and use their Web browsers to access streams from 27 channels.