Near Instantaneous Companded Audio Multiplex (NICAM) is an early form of lossy compression for digital audio. It was originally developed in the early 1970s for point-to-point links within broadcasting networks. In the 1980s, broadcasters began to use NICAM compression for transmissions of stereo TV sound to the public.
Read more about NICAM: How NICAM Works, NICAM's Unusual Features