I have my BDP8000 blu ray player connected to a Philips 58PFL9955 cinema display (21:9 ratio). According to the manual of the BDP8000 I should be able to set the display setting to '21:9 Cinema'. This option isn't available however when I open the Video setup and click 'TV display'. Only 4:3 and 16:9 are available (4 options total).

Any thoughts why the option is missing from the menu?

I'm on firmware version 1.53.