This is not strictly a software development issue, but it may be interesting to software developers too.
The news is that the professional video editing software named “Lightworks”, a proprietary software of the EditShare company, used to edit many Hollywood movies (e.g. “Pulp Fiction”), is about to be released as open source software. At present it has a public beta freely downloadable but not open source. But EditShare has announced that it is going to release an open source version in 2011. This may be interesting for software developers who need to exploit some of the features of that software inside their own software.