Universal Studios announced today that it stands firmly behind HD DVD technology and will continue to offer content in the beleaguered format for the foreseeable future. There were rumors earlier in the week, and from Hollywood trade mag Variety, that the home of E.T. would follow Warner Bros. and move to the Blu-ray camp.
The rumors started when it was found that Universal's exclusive contract with HD DVD had ended this week and that a renewal wasn't close. In addition, Paramount attorneys had worked in a clause to void their own studio's HD DVD contract if Warner Brothers switched to the Blu team, which it did over the weekend. The news caused a frenzy of speculation that HD DVD was as good as dead, and it's clear that Universal execs had to go on record with their current plan, or their silence would have spoken volumes.
Ken Graffeo, executive VP of HD strategic marketing for Universal Studios Home Entertainment, released the following short statement:
Despite this announcement, it would not surprise anyone if Universal changed its mind about the format wars. If it becomes financially unmanageable to support a losing dog, they'll jump out as fast as you can say “it’s all about the money.”
