New Open Video Codec From Xiph/On2

xercist writes: "Xiph.org, the bringers of the mighty Vorbis codec, have done it again. The patents on On2's VP3 video codec have been effectively neutered, and it is being released under the BSD license for all to enjoy. The combination of VP3 video and Vorbis audio (in an OGG bitstream, of course) will be called Theora, and will soon take over the world. The ETA to a 1.0 release is approximately one year. You can also read an interview with Emmett Plant (Xiph CEO) here. The official press release will be up tomorrow, so don't complain about lack of mention on xiph.org just yet."