The Homepage URL that emerge -s shows up for media-video/vls (as of 0.5.6-r2) is outdated and gives a 404 Not Found error. The correct URL for the VideoLAN server is http://www.videolan.org/vlc/streaming.html or just http://www.videolan.org.
Just for reference: the old url is http://www.videolan.org/vls/
Changed ebuilds to point to the correct homepage of vlc.