Paramount Pictures and DreamWorks Animation SKG announced
today that they will be releasing their movies exclusively on HD DVD. After evaulating both Blu-ray and HD DVD, the two companies have
decided that HD DVD's market-ready technology and lower manufacturing costs make it the better of the two formats.
Paramount Pictures, aunit of Viacom Inc. (NYSE: VIA and VIA.B) and DreamWorks Animation SKG(NYSE: DWA), each announced
today that they will exclusively support thenext-generation HD DVD format on a worldwide basis. The exclusive HD DVDcommitment will
include all movies distributed by Paramount Pictures,DreamWorks Pictures, Paramount Vantage, Nickelodeon Movies and MTV Films,as well as
movies from DreamWorks Animation, which are distributedexclusively by Paramount Home Entertainment.
The companies each said
that the decision to distribute exclusively inthe HD DVD format resulted from an extensive evaluation of current marketofferings, which
confirmed the clear benefits of HD DVD, particularly itsmarket-ready technology and lower manufacturing costs. Paramount
HomeEntertainment will launch its exclusive HD DVD program with the release ofthe blockbuster comedy hit "Blades of Glory" on August 28th
and follow withtwo of the biggest grossing movies of the year "Transformers" and "Shrekthe Third". These three titles alone represent
more than $1.5 billion inbox office ticket sales worldwide.
If you'd like to read more, the entire press release can be
found here.
