I guess it was inevitable that Microsoft would jump into the TV over broadband trend. With Joost and other projects nearing completion the software behemoth is in the final stages of their own service called LiveStation. The website is up and running but there’s nothing there… yet.
LiveStation is a collaboration between Microsoft Research and Skinkers and will allow you to watch TV shows in your browser through a P2P network. Being Microsoft the service uses Silverlight as it’s base so this will be a good reason to get the little application installed and ready to go (and a good chance for Microsoft to start competing with Adobe Flash for real).
The program is not ready yet but you can watch a demo at Soapbox.