I found this in Electronics Weekly, and thought some of you might be 
interested:

"A new audio compression standard is being touted by Dolby Laboratories.
Advanced Audio Coding (AAC) is part of the MPEG specification providing up to 
48 channels of audio with sample rates up to 96KHz.  Dolby says the new 
standard gives higher quality at lower bit rates when compared with MP3, the 
popular Internet compression system.
AAC will be used in music distribution, digital radio in the US and digital 
TV in Japan, Dolby said."

That's all the article said.

Greg (UK)
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