I'm watching Rocket Power on the Nickelodean channel (Nicktoon's Network is the actual name of the channel to be even more specific). Using the location free player that comes with every PSP. You have to upgrade your PSP so that it will have the Location Free Player to watch live tv. There are over 200 channels and it goes up to channel 550. It cost $142.00 for you to get the Location Free Player to work and then you won't have to pay for it anymore (there isn't even a monthly or yearly payment after you pay the cost). And I think and you have to register an account on the PSP. There is no UMD disc inside the PSP.
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