Microsoft is talking with Ustream.tv to acquire it for around $50 million, according to a report from Valleywag. Given the Microsoft's urge to acquire more and more companies, this deal this likely to take place soon but nothing is confirmed right now.
Ustream.tv has a good reputation as a provider of live shows and events and is one of the earliest live streaming service providers that includes companies such as Justin.tv, Blogtv and Mogulus. It has offered a complete package of streaming and post show videos. It is also the home of major league live streamers including Chris Pirillo, and also scored a viral win with Walrus TV.
The acquisition, if comes true, doesn't seem to affect its takeover bid for Yahoo, but this deal will surely allow Microsoft to showcase Silverlight to a broader audience.