JoeBorn writes "VideoLAN has long been known as a mature open source project for video playback and transcoding on the PC. Now, Neuros and Texas Instruments have sponsored a port of VLC to their next generation open set-top box. The idea is to allow developers to easily create interesting plug-ins for recording and transcoding applications for the set-top box which will automate functions previously requiring a PC, like formating recordings for a portable player or streaming to another device on the lan or the internet, etc." Link to Original Source
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