They did that when I was a kid, it was called ON TV, had movies a few months out of theaters ( before HBO and Showtime back then), sporting events also, it failed and ended up in bankruptcy.
When they started in 1977, most people was still using TV antennas and it still failed.
Everyone basically needs the internet ( banking and bill paying for a couple of examples), might as well use it.
These pie in the sky OTA ideas always pop up but never work out.
Most do not use them or know they can, only
18.6 million homes are using antennas, that is out of 130 million households.
18.6 million homes using antennas, or 15% of the U.S.
www.nexttv.com