Adobe and Industry Leaders Establish Open Screen Project (via) Talk about burying the lede... the real story is that Adobe are going to drop the license restriction that prevents other people from implementing SWF players. They’re also publishing the AMF and Flash Cast protocols and removing licensing fees for Flash Player on devices.
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Nothing there about RTMP, so live streaming and Red5 are still right out. They're not going to take over the world without that.
(Oh, and this OpenID login form sent me back to the front page instead of here.)