After months of reports proving that Blu-ray sells more movies than HD-DVD, Paramount's parent company Viacom has announced that they are dropping Blu-ray support and going HD-DVD exclusive. According to Viacom, they made this decision based on researching the benefits of HD-DVD, which "confirmed the clear benefits of HD DVD." Some of the benefits of HD-DVD that they mentioned included lower sales, a much smaller user base, and limited storage space (okay okay, they actually said 'market ready technology' and 'lower manufacturing costs').
There are rumors of a 150 million dollar payout by the HD-DVD consortium to nab the Viacom exclusivity, which sure would help explain the move more than the officially given reasons. Regardless, we now can look at the format-war that nobody wanted getting strung out even longer. Yay -- thanks Viacom.
[Thanks to everybody who sent this in]