I dunno, I can see this sort of news making some people frantic.
While they didn't describe "The Cloud", for you old geezers, it is basically using the Web to centralize powerful processor and servers such that folks in the field can run video editing and distribution applications on their pipsqueak computers and have full capability in their processing. Also, in the event someone owned a server farm, the field user could also store their work product up in the Cloud, and thereby perform the distribution function from a centralized location with the push of a button.
Now, all we have to do is figure out who has a centralized server farm for video. Got any ideas about that one, Joe?