Expect Comcast to look to small- and mid-sized acquisitions rather than a big deal after winning a court case that struck down a rule limiting the cable company to no more than 30 percent of the U.S. pay-TV market. “Many had thought Comcast’s win would kick-start industry consolidation, but upon reflection Wall Street analysts do not think the No.1 U.S. cable company, which has around 25 percent market share, will have the appetite for major cable deals,” reports Yinka Adegoke.

“We don’t wake up every day saying how do we get bigger in cable,” Comcast Chief Operating Officer Steve Burke said at an investor conference after the court ruling. “But if there is a way to acquire cable systems for what we consider to be a good price, ones that are contiguous or well managed, we would certainly look at whatever was out there.”

Not everyone thinks smaller is better for Comcast. Citi analyst Jason Bazinet, in a note to clients, said Comcast should tie up with Time Warner Cable in a mega media merger. Combined, the companies would control 37 percent of the pay-TV market and could achieve $2.7 billion in cost savings, he said, predicting that shares of both companies would rally on news of a deal.