Flash Video Player

Hi, I am really new to flash video and wondering if someone can help me or give me some good ideas about the following issue (I have searched on the net, but couldn’t find anything useful) or links to websites where I can find some informationa about it.

There is a website with 3 different flash video players. One is for displaying images, one for video clips which are uploaded to the website (a chat box is included) and the third one for streaming live video, just like a channel.
I was wondering if it is possible to create a flash video player which can combine the three players, so instead of three different players, that I use one, as far as I know, it is no problem to display video and image on one player, the main problem would be the live streaming channel which is embedded.
As an example http://www.mogulus.com/, is it possible to create such thing for live channel, uploaded video content & images?
Or if you have some nice idea, can you share it with me please?=)

Thanks & regards,

Eddie