Digital Range Expander / Compressor?

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Back in the good old days, when I had a decent vinyl rig, I used to use a dBX range expander when playing LP's. This device would enhance the dynamic range a bit on the LP's, but also had the magical property of diminising most of the noise and minor scratches.

With CD's and DVD's in the digital era, surface noise isn't much of an issue, but lots of software is engineered with limited dynamic range, especially pop music.

I'm wondering if there's an equivalent to the old dBX range expanders that operate in the digital domain?
 
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