Canon announces new Video Camera based on 50Mbps MPEG2

Apparently, Canon will announce a new pro camcorder based on an MPEG2 recording format in 4:2:2 color and at 50Mbps quality.

Interesting, since the Canon DSLR line uses MPEG4 for video. MPEG2 will be less taxing on the processors.

Will this be the 5D sensor? What will the form factor be? We may hear more by NAB in April.

Here is the link to the press release.