MKV is short form of file format named as 'Matroska'. It is a single file which can store an unlimited number of pictures, sound tracks, audio or video. To convert MKV files into other formats we need MKV File Converter tool like ImTOO MPEG Encoder Platinum.
For MKV to other formats conversion, an MKV converting tool developed Joyoshare software [joyoshare.com] is also worth a try. It offers a high-speed mode to do the thing without quality loss.
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