Media Studio Lite is an easy to use multimedia converting tool.
The Lite version contains:

1) CD Audio Extractor (CD Ripper)
- Extract audio tracks from CD Audio, and export them to varius formats.
- Convert 4 files at once contemporarily for accelerate speed.
- Find and download metadata from 2 different online database.
- Find and download album art from 2 different online database.
- Allow user to edit metadata.
- Contains a simple audio player.

2) Audio converter
- Convert audio files from one format to another.
- Convert 4 files at once contemporarily for accelerate speed.
- Extract audio from video files, and export them to varius formats.
- Allow user to edit metadata.
- Contains a simple audio player.

Media Studio support varius audio-video format:

ADTS AAC (*.aac)
raw ac3 (*.ac3)
Audio IFF (*.aif;*.aiff;*.afc;*.aifc)
3gpp amr file format (*.amr)
Monkey's Audio (*.ape;*.apl;*.mac)
asf format (*.asf;*.wmv;*.wma)
SUN AU Format (*.au)
avi format (*.avi)
D-Cinema audio format (*.302)
raw dts (*.dts)
DV video format (*.dv;*.dif)
Electronic Arts cdata (*.cdata)
ffm format (*.ffm)
raw flac (*.flac)
flv format (*.flv)
GXF format (*.gxf)
raw h261 (*.h261)
raw h263 (*.h263)
raw H264 video format (*.h26l;*.h264;*.264)
Ingenient MJPEG (*.cgi)
raw MPEG4 video format (*.m4v)
Matroska file format (*.mkv)
MJPEG video (*.mjpg;*.mjpeg)
mmf format (*.mmf)
QuickTime/MPEG4/Motion JPEG 2000 format (*.mov;*.mp4;*.m4a;*.3gp;*.3g2;*.mj2)
MPEG audio (*.mp2;*.mp3;*.m2a)
musepack (*.mpc)
MPEG PS format (*.mpg;*.mpeg)
MPEG2 transport stream format (*.ts)
nut format (*.nut)
Ogg (*.ogg)
pcm formats (*.al;*.ul;*.sw;*.sb;*.uw;*.ub)
raw video format (*.yuv;*.cif;*.qcif;*.rgb)
rm format (*.rm;*.ra)
Id RoQ format (*.roq)
raw shorten (*.shn)
Beam Software SIFF (*.vb;*.son)
Flash format (*.swf)
true-audio (*.tta)
raw vc1 (*.vc1)
Creative Voice File format (*.voc)
wav format (*.wav)
YUV4MPEG pipe format (*.y4m)