Complex sentence: The Betacam used the same cassette format (tape) as the Betamax (but with a different, incompatible recording format), and became standard equipment for broadcast news and in-studio video editing.
Split into simpler sentences: The Betacam used the same cassette format (tape) as the Betamax, but with a different, incompatible recording format. It became standard equipment for broadcast news, as well as in-studio video editing.