Some cable and satellite providers provide digital video recorders (DVRs) to subscribers for a fee. These allow you record your favorite shows as well as pause or rewind live TV. Right now you can pick up a DVR from TiVo for $20 a month with a two year commitment. If you absolutely have to have TiVo this looks like a great deal. What I haven't been able to sort out is what happens after the commitment is over. Can you still use the TiVo without the monthly fee? If not then TiVo does not look like such a great deal.
If you have a newer computer, you can leverage that as your DVR easily. You need a way to get the content into the computer, a video in or video capture card with an antenna/cable input. There are some video cards that have TV tuners on them so you can possibly watch one channel while recording another.
The build your own PVR forum is a good place to learn what it takes to do it yourself. The content on the home page is helpful but dated. The forums are where you'll find the greatest help.
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