The basic difference between the GPL and the LGPL is that software under the LGPL can be incorporated into proprietary software as well. It is still free software; the difference is that it can now also become part of proprietary programs.

I read the link you posted, and it says that "The license of the VLC media player will continue to be GPLv2 or later. This will not impact normal users of VLC in any way." So apparently it's only the VLC engine that's being re-licensed, not the media player program itself.

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