I saw this on digg today and it got me excited:

Several leading consumer electronics companies are expected to announce Tuesday that they are working together to develop a new standard for transmitting high-definition audio and video signals wirelessly.

Supported by LG, Matsushita (Panasonic), NEC, Samsung, Sony, Toshiba and semiconductor maker SiBeam, the digital interface WirelessHD would enable high-speed streaming of audio and video content between consumer electronics devices like televisions, DVD players, game consoles and other portable devices without using cords. The group plans to release the specification in spring 2007.

Full article

While on the one hand we're big fans of Japanese (and Korean) electronics companies, so it's great to see them coming out with this important and exciting technology, on the other hand we are Americans and it would be nice to actually see an American company working on something like this for once.  Hopefully the Japanese will keep gobbling up all the blue jeans and Paris Hilton handbags we're sending them in exchange for all these nice HDTV gadgets they're sending us.