Setting up Live TV and DVR with plex on My cloud home

I am using Plex on my my cloud home. I use plex for shows that I download and I use sky Q for watching live TV. I recently was looking into the Live TV and DVR function of plex as I think that sky Q is ridiculously priced. I know that I would need to get the plex pass, and I am fine with that, however I am not sure if the my cloud home can do the live TV and DRV part of plex, and if it can, will it be able to transcode from MPEG2 into something that my TV can actually display.

Secondly, I am not sure if there is any way to get channels such as sky sports using this or if I would need to get something like the Now TV sports pass in order to do that.

Finally, I was wondering what tuner and ariel people would recommend using in the UK.

Any help as greatly appreciated as I don’t want to buy all the stuff only to discover that I can’t even do this.