TVU Player is a free P2PTV program that allows users to watch TV channels on their computers. It is possible to record the video using VideoLAN Client (or VLC) as an ASF file.
While TVU Player is running and streaming video, open VLC and go to File -> Open Network Stream. At the open dialog, select HTTP/HTTPS/FTP/MMS and enter 127.0.0.1:8901 in the URL. Click the Stream/Save checkbox, and click Settings next to it.
On the Stream Output dialog, click File in the Outputs section. In Filename, choose a location and file name for the output. In the Encapsulation Method section, choose ASF. Click OK on the two open dialogs of VLC, and the current TVU Player stream will start recording.