Aaron Bailey was fed up with paying about $120 a month for satellite TV service when he heard about Aereo, a start-up company that streams live broadcast stations over the Internet for $8 to $12 a month. When it arrived in Denver last November, he signed up the first day. Bailey lost some options -- no Bravo, C-SPAN or ESPN -- but gained flexibility. Now he could watch TV anywhere, anytime, on virtually any device. At home, his Roku included an Aereo channel. There was no hardware and no hassle. "It was simple, easy to use and inexpensive," says Bailey, 37, who owns a digital agency that builds websites and applications for companies -- including media companies.