Image Entertainment, which distributes classic movies on home video, is likely to hold off releasing such films on high-definition DVDs. Martin Greenwald, the company's president and CEO, told an investors conference in Las Vegas that the cost of mastering high-definition discs is currently price prohibitive for companies like his. As reported by Home Media Retailing magazine, Greenwald said that at a meeting with Sony execs in Japan about Sony's Blu-ray format, he learned that mastering costs would be $40,000 per movie versus $2,000 for a standard DVD. Each disc would cost $2.00, twice as much as a conventional DVD. "We have to wait until that price point comes down to a level that actually works for us," Greenwald remarked.