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At Twitter’s event later this afternoon, the company will announce new ways to embed multimedia into the stream — including the ability to embed and play back video content directly from the Twitter home page — according to sources at two partners that are part of the announcement.

Our sources lead us to believe that several companies will be involved with Twitter’s multimedia efforts, handling different parts of the backend and distribution. Similar to how Twitter has started to work with TweetMeme to support the backend for the official Twitter Buttons, Twitter could potentially be utilizing other services to make things like video, photos and even live streaming content accessible from the Twitter interface.

More @ Mashable.