Outlaw Audio has introduced an aggressively-priced home theater surround processor in the form of its new $500 Model 975 with four HDMI inputs and one HDMI output. The HDMI connections are integrated with Audio Return Channel (ARC) for sending soundtracks back to the processor from the streaming content on your smart TV. Other connections include two inputs and one output each for component video, as well as “legacy “composite and S-video inputs and outputs. With the inclusion of these legacy video connections, the Model 975 also scales 480i to 1080p.

On the audio side, there are two optical and two coaxial digital inputs, five stereo inputs, a record output, a low-noise ¼” headphone jack and a configurable 7.1 multi-channel output for use with surround back or front height enhanced speaker systems.

This processor, although aimed at the home theater market, can easily be dropped into many ED applications as there’s a need for a small, inexpensive HDMI switcher with ARC.

Here are all the specs: http://www.outlawaudio.com/products/975.html