Paramount Home Entertainment announced yesterday that it will be the first major studio to back both the Blu-Ray and the HD-DVD formats in the upcoming format wars. After early announcements that the studio would support the HD-DVD format, the studio will now also begin creating content for the Blu-Ray players. For those keeping track this puts Blu-Ray slightly ahead in terms of studio support, but HD-DVD leading the way in hardware and computer backing. Sigh. Let’s all hope they figure it out soon.