Yes it's possible with the media_play instruction. look in the manual
for more information and for the version you need(commercial?).
i think there is an example.

FraJo

EDIT: media_play(string,bmap,volume)
string is the filename (film.avi)
bmap is a pointer to a bitmap on which the film should be played

you can get the bitmap of your TV-model with:
bmap_for_entity(tv_model,0)
Result:
string film_str=<my_film.avi>;
media_play(film_str,bmap_for_entity(tv_model,tv_model.frame),100);