Livestation is a Microsoft backed startup that provides streaming TV channels for free on the internet. Initially they stared their private beta focusing on news channels, at the time of the launch the listed channels are BBC World, BBC World Service, Al Jazeera (English), Bloomberg, Euro News (English & French), France 24 (English, France), i>Télé, Sky News and BBC Radio 4. These channels may differ for you based on your location.
News channels are great but that is not enough to please everyone, Livestation realized the fact and offered its users a way to watch their other favorite channels using Livestation player. Users can add any channel they want to watch to Livestation, you need to know the MMS stream of the channel. If you know the channel stream you can add the channel, you can decide whether you want others to watch this channel or not.
Users have added lot of channels from CNN to NASA TV to the list, there are 381 channels to pick up at the time of writing this post, the number may increase in the next few weeks.
This is a good way to watch TV channels on the internet, the quality of the channels is quite good. You need to download the Livestation software to add channels. Livestation works with Windows XP SP2, or Vista. Support for Mac and Linux versions will be added soon.