It's a streaming protocol media link. If go to a TV news channel website
and they have "live video" or such the protocol is often embedded in the
page you are viewing unless you click on "view source" and find the URL
manually. Then, you can paste it into the address bar and view the file
To be more specific it's the microsoft streaming media protocol.
From http://sdp.ppona.com/ :
What is MMS?
MMS or ' Microsoft Media Server ' protocol is Microsoft's proprietary
network streaming protocol. Microsoft has never released a specification to
describe how MMS actually works, yet it is extensively used by their
Microsoft media player software. MMS protocol can be used on top of TCP and
UDP transport protocols over any network medium. Its primary use is to
stream live or prerecorded audio and video content to your computer without
any need to download a file before playing.
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