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Pearson ETM is XML-encoded text. It "converts" the presentation formatting of print publishing to the content formatting used when re-purposing that text. Thus the structure and content of the text are maintained, but the specifics of presentation are stripped away, allowing device-specific formatting and display of the content. In this way, text that originally appeared printed onto paper can be presented on the web, via CDs, or however else.

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Q: What does 'Pearson ETM' mean in digital publishing?
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