While mathematical in nature, information theory addresses at least three basic engineering problems: data compression, coding for error correction, and certain aspects of cryptography. It is therefore not surprising that an industrial research lab would want to maintain core expertise in technologies that were crucial in enabling the multimedia revolution. But if the target is the practical applications - the algorithms, the industry standards - why research the mathematical foundations - the mathematical models, the fundamental bounds? In this talk, I will try to address this question by presenting "a few years" in the life of the Information Theory Research group at HP Labs. How does the group "research the mathematical foundations and practical applications of information theory, generating intellectual property and technology for HP through the advancement of scientific knowledge in these areas," as its "mission" states? How does its approach differ from the prevalent one among information theorists in the academia? From theorems in universal coding and universal denoising to industrial standards on image compression and patents on image denoising, from capacity calculations in constrained coding to DVD standards, we will discuss the many faces of information theory.