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Toshiba stocks fell as much as 1.3% while Sony’s stock rose 3.4% amidst reports by the Financial Times that Hollywood giant Paramount Pictures was poised to make its move towards the Blu-ray camp. 

According to undisclosed sources, the contract with the HD DVD camp has an exit clause that would allow Paramount to switch sides in the event of Warner Bros. backing Blue-ray.  Now that Warner Bros. has joined the Blu-ray camp, the gate has swung wide open for Paramount.

Reports at Bloomberg contradicts the story at the Financial Times.  According to them, Paramount has denied reports that it will drop Toshiba’s HD DVD format.  According to an email sent by Paramount spokeswoman Brenda Ciccone: “Paramount’s current plan is to continue to support the HD DVD format.”

With Warner Bros.’ move to the Blu-ray camp, Blu-ray now holds around 80% of Hollywood’s total output.  If Paramount was to move, it would be the deathblow to HD DVD and consign the format to a fate similar to that of Sony’s doomed Betamax.

Because of these developments, Microsoft is keeping its options open.  “It should be consumer choice; and if that’s the way they vote, that’s something we’ll have to consider,”said Albert Penello, group marketing manager for Xbox hardware when he was asked if Microsoft will support a Blu-ray accessory for the Xbox should HD DVD fail. 

Penello also said that he doesn’t expect Warner Bros.’ decision to affect console sales however he also described it as a “bummer” and a “setback”.

[Sources: Financial Times, Bloomberg, Filefront]

This entry was posted on Wednesday, January 9th, 2008 at 11:48 am and is filed under Gaming News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.