Toshiba Surrenders

High-definition video enthusiasts are going to be looking at a Blu-ray world. That outlook was assured Tuesday when Toshiba officially backed away from the HD DVD format against Sony’s heavily fortified Blu-ray technology. The Blu-ray format had gathered momentum in recent months, having won over a number of major film studios, including Warner Bros., Walt Disney and 20th Century Fox, in addition to its own Sony Pictures. Sony shares were up nearly 4 percent in the wake of the announcement, trading at $46.50 midday on the New York Stock Exchange.