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used in broadcast to maximise signal levels
That's a darn interesting fact, all-pass faze-shift destroying male-voice asymmetry. But it isn't what SSLtech's box aims to do.
As I read it, it is a variant of the old quad-on-stereo matrixes like SQ.
First: take a straight (not panpot) stereo recording. You have two mikes and two channels.
Play in two speakers, you have a left-right illusion of space.
Sum the two channels, you get a mono signal that emphasizes the center of the band.
Take the difference of the two channels, you cancel the center of the band and bring out the sides and the room reverberation.
You can wire four speakers on a stereo recording and get a very interesting 4 channel (left, right, front, rear) presentation.
But "quad" is usually not Lt-Rt-Ft-Rr. We like FL-FR-LR-RR.
To over-simplify, we can shift some channels 90 degrees when we matrix from quad to stereo, and then un-do the shifts to matrix from stereo to quad. It works, pretty-much. The phantom channels tend to have only a few dB separation, not at all "discrete". But this is enough to fool the ear into hearing things in four directions. And it does not need new disk formats. And it plays in 2-channel or 1-channel speakers perfectly acceptably (no missing instruments).
To get an effective 90 degree shift, we seem to have to run hundreds of degrees of shift over the whole audio band, but starting at different frequencies in each channel. So one channel may be 600 deg at 20KHz, the other may be 690 deg at 20KHz, difference being 90 deg and nearly constant over the whole audio band.
Now that I think on it: this is a sine thing so few-degree errors do not cause large decoding errors.
Essay on various Quad formats, though without explanation.
This page has more, including this morsel (under SQ): "the level of Right Front signal in the Left Total equation is zero and vice versa. This means that front speaker crosstalk is at a minimum and the front stereo image is fully preserved. ... As we have said, Lf and Rf emerge intact. However the signals sent to the rear speakers contain substantial amounts of all the other components, giving seperation between front and back and diagonally of only 3dB.... This is a severe limitation of the SQ matrix system and means that some blurring of images is inevitable with the basic decoder circuitry."
This page lists several good essays. "Understanding the Scheiber Sphere" may be the most general. "Ambisonics Decoded" summarizes the difference between kludges like SQ and general acoustic location theory.
Encoding SQ at home is good general explanation of phased matrixes.
The Prologic (tm) Compromise is good history.
Ambisonics: The Surround Alternative is a good survey of the last 30 years (plus a new idea the author is pushing).