Finally! The news we had been waiting for! Here is the WebM project :
The open sourced VP8 video format with Vorbis audio format and a
subset of the Matroska container.

Official site : http://www.webmproject.org/
Mozilla blog: 
http://blog.mozilla.com/blog/2010/05/19/open-web-open-video-and-webm/

Google and Mozilla, we owe you one!

Regards,
Gokul Das

-- 
"Freedom is the only law". 
"Freedom Unplugged"
http://www.ilug-tvm.org

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