Nov 9, 2005 14:04 ET
MGM to Support Blu-ray Disc Format
LOS ANGELES, Nov. 9 /PRNewswire/ — Metro-Goldwyn-Mayer Inc. announced today its support of the new high definition Blu-ray Disc format. In cooperation with the Blu-ray Disc Association, MGM plans to begin releasing film and television titles from its world-renowned library when the new Blu- ray hardware launches in North America, Japan and Europe.
(Logo: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO )
“MGM’s focus has always been to provide movie lovers complete access to the world’s largest modern film library in the most technologically advanced formats,” commented Harry Sloan, Chairman and CEO of MGM Studios. “Adopting this new Blu-ray technology, with its expanded storage capacity and increased interactive capabilities, allows us to continue to provide our customers with the best movie viewing experience available.”
“This is a tremendous win for movie lovers everywhere,” said Howard Stringer, Chairman and CEO, Sony Corporation. “The Blu-ray Disc format provides a completely new viewing experience, and consumers can now look forward to enjoying content from the world’s largest library of modern films, including titles from franchises such as James Bond and The Pink Panther in this amazing new format.”
Blu-ray Disc is a next generation optical disc format developed for high- definition video and high-capacity software applications. A single-layer Blu- ray Disc will hold up to 25 gigabytes of data and a dual-layer Blu-ray Disc will hold up to 50 gigabytes of data. This greater storage capacity enables the Blu-ray Disc to store up to five times the amount of content than is possible with current DVDs, and is particularly well-suited for high definition feature films with extended levels of additional bonus and interactive material. Blu-ray also features the most advanced copy protection, backward compatibility with the current DVD format connectivity and advanced interactivity.
About Metro-Goldwyn-Mayer Inc.
Metro-Goldwyn-Mayer Inc. is an independent, privately-held motion picture, television, home video, and theatrical production and distribution company. The company owns the world’s largest library of modern films, comprising approximately 4,000 titles, and over 10,400 episodes of television programming. Its film library has received 208 Academy Awards, one of the largest award winning collections in the world, and includes numerous successful film franchises, including James Bond, Pink Panther and Rocky. MGM is owned by an investor consortium comprised of Providence Equity Partners, Texas Pacific Group, Sony Corporation of America, Comcast Corporation, DLJ Merchant Banking Partners and Quadrangle Group. For more information, visit www.mgm.com.
About the Blu-ray Disc Association:
The Blu-ray Disc Association (BDA) is responsible for establishing format standards and promoting and further developing business opportunities for Blu- ray Disc — the next-generation optical disc for storing high-definition movies, games, photos and other digital content. The BDA has over 150 members. Its Board of Directors consists of Dell Inc.; Hewlett Packard Company; Hitachi, Ltd.; LG Electronics Inc.; Mitsubishi Electric Corporation; Panasonic (Matsushita Electric); Pioneer Corporation; Royal Philips Electronics; Samsung Electronics Co., Ltd.; Sharp Corporation; Sony Corporation; TDK Corporation; Thomson; Twentieth Century Fox; Walt Disney Pictures and Television and Warner Bros. Entertainment.
About Sony Corporation of America:
Sony Corporation of America, based in New York City, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo. Sony is a leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets. Its music, motion picture, television, computer entertainment, and online businesses make Sony one of the most comprehensive entertainment companies in the world. Sony’s principal U.S. businesses include Sony Electronics Inc., Sony Pictures Entertainment, Sony Computer Entertainment America Inc., and a 50% interest in SONY BMG MUSIC ENTERTAINMENT, one of the largest recorded music companies in the world. Sony recorded consolidated annual sales of approximately $67 billion for the fiscal year ended March 31, 2005, and it employs 151,400 people worldwide. Sony’s consolidated sales in the U.S. for the fiscal year ended March 31, 2005 were $18.4 billion. For more information see www.sony.com.
Contact: Paige Taylor
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Source: Metro-Goldwyn-Mayer Inc.
CONTACT: Paige Taylor of Metro-Goldwyn-Mayer Inc., +1-310-449-3660
Web site: http://www.sony.com/
Web site: http://www.mgm.com/
Completely unsurprising, since MGM is owned by Sony, but nice to have it official.