Paramount denies Blu-Ray defection

Following the recent news that Warner Bros is to drop its support of Toshiba’s HD-DVD hi-def movie format, fellow movie studio Paramount has denied that it is to do the same.

Bloomberg reports that US newspapers are claiming that Paramount has a clause in its HD-DVD exclusivity contract that allows it to withdraw if Warner drops its support of the format.

However, Paramount spokesperson Brenda Ciccone told the news agency that “Paramount’s current plan is to continue to support the HD-DVD format”. Toshiba added that the reports are nothing more than speculative.

Following the shock Warner news, share in HD-DVD owning Toshiba fell by 1.4 per cent, whilst Sony’s rose by 3.4 per cent.