Google to open VP8

According to a report at NewTeeVee, inside sources have confirmed that Google will be open-sourcing the On2 VP8 video codec next month at the Google I/O conference. Mozilla and Google will also reportedly announce plans to implement support for VP8 in their respective browsers at that time. The move could have profound ramifications on the viability of standards-based video playback and the future of rich media on the Internet.