Paramount To Stay With HD DVD

A Paramount spokesperson reaffirms Paramount's commitment to supporting HD DVD format.

As reported at Bloomberg.com, Paramount has no plans to adopt the Blu-ray format in lieu of HD DVD. "Paramount's current plan is to continue to support Toshiba's HD DVD format," said Brenda Ciccone, a spokesperson for Paramount.

An article in the Financial Times had recently reported that Paramount was poised to switch to Blu-ray. Paramount has a contract clause permitting it to switch to Blu-ray if Warner Bros. Entertainment Inc. dropped its support of HD DVD.

Toshiba, who is the leading promoter of the HD DVD format, saw its shares drop in Tokyo trading as a result of the Financial Times report, while Sony's stock rose several percent.

To read more, head to the article located here.

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