You may wanna check out Omega 12
It has all the features of Fedora and number of additional software including multimedia players and codecs by default. Omega plays any multimedia content (including MP3) or commercial DVD's out of the box.
the kickstart file (to make a livecd omega) also has the repos; maybe you can just add their repositories
and then add their codecs?
that might be above your head now, but it wont be after a while
other members more familiar with Fed12 than me can help too