Thanks but for some reason I don't understand VLC player cannot play the streams correctly. It does not give any error message, it simply plays some sort of pixelated, psychodelic-looking images instead of the actual thing. As I said in my inital post, Windows Media Player is playing these DRM streams perfectly well. Obviously since VLC cannot play the streams, I haven't tried the re-broadcasting thing...
I guess I could do what you say about recording it first, then remove DRM, but bear in mind that I subscribed to this liveuktv thing because it is live TV... if I record it, it kind of defeats the object...
Do you know any other software I could try instead of VLC? The issue with WMP is that it does not seem to let you capture the screen with Windows Media Encoder so that I can re-broadcast it...

Thanks!