TV-over-Internet startup Aereo was shut off following an adverse Supreme Court ruling this summer. The high court said it couldn't avoid paying for broadcast TV shows by claiming it was renting a tiny antenna to each customer.

It might get one last chance, though. The FCC is considering whether to regulate online providers of pre-scheduled programs the same way it handles cable and satellite companies, according to reports in National Journal and Multichannel News.

If true, it could be a breakthrough for Aereo. In the wake of the Supreme Court's ABC v. Aereo ruling, the company changed its strategy, embracing the idea that it should be considered a cable system. It wants to pay the same royalty fees for broadcast content that the cable companies pay.

The US Copyright Office has made it clear it won't accept that definition without a judicial order. The one district judge to consider the issue in a related case reacted unfavorably to the "now we're cable" argument.

That didn't damper enthusiasm in some quarters.

"Aereo is back," industry analyst Rich Greenfield told National Journal. The FCC's proposal could shake up the business of bundled cable television more generally, he added.

According to Multichannel News, the FCC's proposal "tentatively concludes" that an online service can be treated like a cable company, "as long as it provides a continuous linear stream of prescheduled programming—not like a Netflix or other on-demand video programmer without a linear lineup."

The FCC's proposal is a very early step. Even if approved, it would have to be followed by a public comment period and further debate on the matter. In a press conference after today’s FCC meeting, Chairman Tom Wheeler characterized the online video plan as “an idea that was being kicked around” rather than an official proposal. “I’m not ready to plant the flag,” Wheeler said.