We propose a tone mapping operator that can minimize visible contrast distortions for a range of output devices, ranging from e-paper to HDR displays. The operator weights contrast distortions according to their visibility predicted by the model of the human visual system. The distortions are minimized given a display model that enforces constraints on the solution. We show that the problem can be solved very efficiently by employing higher order image statistics and quadratic programming. Our tone mapping technique can adjust image or video content for optimum contrast visibility taking into account ambient illumination and display characteristics. We discuss the differences between our method and previous approaches to the tone mapping problem.