As we went into the 4th quarter of 07, Toshiba and the HD DVD camp was certain they had this wrapped up. Their player prices were well below the Blu-Ray offerings, they had picked up several new studios and Sony's PS3 was looking more like an anchor on Sony's future than a help to Blu-Ray. In addition, they seemed to believe that Time Warner was going to go exclusively HD DVD shortly after the end of the year and had planned a massive announcement with Microsoft for CES.