Paramount To Ditch HD DVD, Too?

Update: paidContent is reporting that Paramount is denying the rumors that they will ditch HD DVD. I'd love to listen in on the discussions between the remaining companies that support HD DVD.

The Financial Times is reporting that Paramount might ditch HD DVD and join the Blu-ray camp:

Paramount and DreamWorks Animation, which makes the Shrek films, came out in support of HD DVD last summer, joining General Electric’s Universal Studios as the main backers of the Toshiba format.

However, Paramount, which is owned by Viacom, is understood to have a clause in its contract with the HD DVD camp that would allow it to switch sides in the event of Warner Bros backing Blu-ray, according to people familiar with the situation.

Paramount is set to have a bumper 2008 with several likely blockbusters, including the latest instalment in the Indiana Jones franchise.

I was joking about selling my HD DVD player, but I'm not buying any more HD DVD discs. I've only paid for a few, so it's not a big loss. I am thinking about buying a PS 3, since it's an economical Blu-ray player (I also heard it plays computer games, too).

Thanks to Baff & Fabian for sending this in.

Comments

[Baff]

The week before Warner sided with Blu-Ray, they were adamantly denying it too. Not that that means much, just saying denials don't mean a lot.

If its true that clause exists, then they will likely use it fairly soon.

I agree, would love to be a fly on the wall right now.

[Aron]

I think the Warner decision was the tipping point. Even if the above is unfounded rumor, I still suspect Paramount will follow. DVD sales are clearly slowing, and letting digital replace these falling sales is a huge gamble. The easiest and most guaranteed path for studios is to promote another product cycle of plastic while letting the Apples, Comcasts, and Netflixes SLOWLY bite around the edges.

[Super-Bat-Man]

hopefully this does happen so there will be at least one HD format with all of the majors backing it. I guess including blu-ray in the ps3 was a good move. certainly seems to be tipping the scale in blu-ray's favor.

[Matt]

Hopefully this happens, so this stupid format War will be over. I own several HDDVD's so hopefully, if the format war ends there will be multi players being released very cheaply.