According to a just-issued AP report, Paramount Pictures has announced it will exclusively support HD DVD, dropping its support of the Blu-ray format.
It's a move few predicted, and it's a particular surprise given the Blu-ray format's 2-to-1 lead over HD DVD in disc sales over the first half of 2007.
According to the AP article, beginning with 'Shrek the Third,' Paramount and all of its subsidiaries (including DreamWorks Pictures, Paramount Vantage, Nickelodeon Movies and MTV Films) will release its next-gen releases on HD DVD only.
"Part of our vision is to aggressively extend our movies beyond the theater, and deliver the quality and features that appeal to our audience," said Brad Grey, chairman and chief executive of Paramount Pictures. "I believe HD DVD is not only the affordable high quality choice for consumers, but also the smart choice for Paramount."
There's no word yet on exactly how or when Paramount will make the transition to HD DVD exclusively. Check back for more on this developing story later today.