Theora (Ogg Video) Reaches First Milestone

strmcrw writes "Today Theora (maintained by the Xiph.org Foundation) releases their first of three planned Milestones. Theora will be a video codec that builds upon On2's VP3 codec and is going to be integrated in the Ogg multimedia container. The code is under a BSD style license, for the legal terms on the usage of the VP3 codec, please check out their CVS page."