Not built in, but dozens of options otherwise, most which can be downloaded for free. I even have a USB TV turner plugged into mine at the office to watch TV on the rare occasion that I want too.
Windows 7 has media center, but I wouldn't give you a slug nickle for it. Unstable as all get out in my opinion. I've had it actually corrupt some media files here recently when playing around with it. But this is a common problem with Microsoft. They try to put so much into Windows that they just don't ever get it just right. Though I will say that Windows 7 over all is damn rock solid. There is 3rd party software that makes Media Center looked like childs play.
Thank you for your help. I will look into it. We have Windows 7 on our desktop and her netbook. Never had a problem with media center. We've recored shows over the air on each plus watched Netflix and no problems at all. We use the desktop as a Media center fo our TV. The wife wants to move up to a full laptop and give her netbook to our neice. Thanks again.