Paramount Denies Report It Will Drop Toshiba’s HD DVD
New information has been released attempting to debunk the claims made by the Financial Times that Paramount was poised to drop Toshiba’s HD-DVD format. According to the article published on the Bloomberg.com website a spokeswoman for Paramount Brenda Ciccone, said in an e-mail “Paramount’s current plan is to continue to support the HD DVD format,”
Toshiba, the leading promoter of the HD DVD format for high- definition video discs, fell in Tokyo trading after the Financial Times reported Paramount is poised to adopt Sony Corp.’s Blu-ray format instead. After speaking with Matthew Garrahan who reported the story for The Financial Times and reading the story again he only stated they were “poised” to drop the format. That’s not saying they will or won’t contrary to what I have seen on some websites and news reports.
The contract between the two companies is understood to have a clause in its contract with the HD-DVD pioneers that would allow it to switch sides in the event of Warner backing Blu-ray.
More information to come as the story develops.
Link to the Bloomberg Story:
Link to Financial Times article:
