The about-turn coincides with the recent appointment of new chief executives at both Sony and Toshiba who do not have a strong personal interest in either format and can be more flexible.
Unlike the original DVD format dispute between 1993 and 1995, which was eventually resolved in a few months when the Sony-Philips camp agreed to develop a single standard with a camp around Toshiba and Warner, the current alliances involve many more companies, including those from the personal computer industry and Hollywood.
Sony and Toshiba have reportedly already begun briefing Walt Disney Co. and other Hollywood movie studios for approval of a unified standard, paving the way for the signing of an agreement between the rival camps.
A unified format would be favorable for profitability across the industry because consumers would be more comfortable about buying next-generation products and manufacturers could achieve lower production costs.
Read more at Reuters
