A system and method enables a set-top box to share the processing, communications, and storage resources of another local device, such as a personal computer, other set-top box, or an electronic appliance. The set-top box is interconnected with the other local devices using a "transmission medium such as wire, concentric cable, or a wireless medium. The interconnected devices form a resource sharing group that includes a control member. The control member receives a request for a resource from a requesting member, and then determines whether the resource is available from a set-top box that is a member of the resource sharing group. If the resource is available, the set-top box shares the resource, and uses the shared resource to perform a task. The system and method also enables members of the resource sharing group to share video, audio, and related content.