Eltima Software (http://mac.eltima.com) has released Elmedia Player 6.5, a new version of its universal media player for OS X.

It supports most commonly used audio and video formats and downloads media from the web. The application features a 10-band audio equalizer, its own volume control, a video tuner for adjusting sharpness, contrast, reducing noise, video aspect ratio change, playback speed adjustment, ability to edit subtitles and much more. Version 6.4 adds AirPlay support.

Elmedia Player requires Mac OS X 10.7 or higher. It’s free, but also comes in a $19.95 pro version with additional features including the ability to download from the Internet.