What's the difference between HD-capable and HD-ready TVs?

Today, HDTV is available in two forms: HD-ready and HD-capable. HD-ready sets have built-in HDTV receivers. This built-in receiver, however, is not compatible with Mediacom's HDTV receiver/converter. HD-capable sets are, essentially, monitors that require an external receiver/converter. In both cases, a Mediacom HDTV digital converter is required.