Paramount has just announced that it has signed up to join the Blu-ray format. According to The Hollywood Reporter, all six major Hollywood studios are now in the Blu-ray team, a day after Toshiba has pulled the plug on HD DVD and Blu-ray became effectively the only high-definition format in town.

Paramount Home Entertainment quietly came onboard through a statement sent exclusively to The Hollywood Reporter on Wednesday:

We are pleased that the industry is moving to a single high-definition format, as we believe it is in the best interest of the consumer," the statement reads. "As we look to (begin) releasing our titles on Blu-ray, we will monitor consumer adoption and determine our release plans accordingly.

Studios are expected to start with new theatricals coming the same day as the standard DVD, beginning in late spring or early summer.