A federal appeals court has ruled that Aereo’s TV-anywhere service doesn’t violate copyright law, opening the door for the startup to expand a service that lets consumers watch television on their mobile device for as low as $1 a day. The decision amounts to a major victory for cord cutters and could hasten the end of a pay TV model that forces consumers to buy expensive bundles of channels they don’t want to watch. Here’s a plain English explanation of the decision (embedded below), in which the US Court of Appeals for the Second Circuit ruled that Aereo’s technology is legal, and why it’s so significant for the TV industry. (Note that Aereo CEO Chet Kanojia will be speaking at paidContent Live). Aereo captures over-the-air TV signals by means of tiny antennas and streams them to subscribers who watch and record shows on their mobile devices or computer browsers. Read the full story at Giga OM.