It would be an interesting case if someone tried this with the venerable TV industry: rent/borrow/buy our special HDMI cable/tuner, let us replace your ads, and we'll pay half your cable bill if you let us put our ads up instead.
Methinks the broadcasters would pounce down like a ton of bricks and their lawyers would use every loose corner of the law to bury you perpetually `a la Aereo.`