Lifecasting startup Ustream.tv the company that owns companies like Justin.tv, Blogtv.com or Mogulus is having advanced talks with Microsoft to sell for more than $50 million. Now that Yahoo managed to make a fiasco of their beta launch of Yahoo Live the next in row are companies like Ustream.tv, and there aren’t many.

Microsoft is not the only company interested. Ustream is engaged right now in a large initial round of VC financing so I guess Microsoft would like to get it in while it’s cheap. Rumors, say that they want it to promote Silverlight, a competitor for Adobe Flash Player

Ustream is riding the wave pretty well right now and my honest opinion is that whoever buys them is doing a great job.

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