TiVo shares surge on Verizon settlement

Anticipated $250 million cash infusion gives company bump

TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year.

TiVo stock rose more than 9% in early trading after TiVo announced the telco will dish out a hefty $100 million upfront, followed by recurring quarterly payments totaling $150.4 million through July 2018. If the two opt to work together by mid-December “on certain commercial projects,” Verizon would get a $29.4 million credit. Pact also calls for Verizon to pay monthly license fees through July 2018 for each Verizon DVR subscriber in excess of certain pre-determined levels.

TiVo said it and Verizon and are exploring a deal that would make content distributed via Redbox Instant — a venture between Verizon and Coinstar’s Redbox — part of the linear and broadband-delivered content available to users of TiVo’s retail DVRs.

As part of the settlement, TiVo and Verizon agreed to dismiss all pending litigation between the companies and signed a deal to cross license their respective patent portfolios in advanced television.

“We are pleased to reach an agreement with Verizon which underscores the significant value our distribution partners derive from TiVo’s technological innovations and our shareholders derive from our investments in protecting TiVo’s intellectual property,” said TiVo CEO Tom Rogers.

More Digital

  • Dont Believe Every Tweet - Nathan

    Fake Twitter Campaign Warning of Fake Tweets Created by TV Writer Looking for Work

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • A trading post sports the Spotify

    Sony Music's $750 Million Spotify 'Windfall' Leaves Some Lingering Questions

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • Deepfakes: This Porn Studio Uses AI

    Naughty America Wants to Monetize Deepfake Porn

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • Amazon Prime

    Amazon Prime's 20% Game Discount Coming to an End

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • Twitch_Prime

    Twitch Drops Ad-Free Viewing for Prime Members

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • virtual reality

    Google and Imax’s VR Camera Project Canceled (EXCLUSIVE)

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

  • Nvidia's New RTX Graphics Cards Run

    Nvidia's New RTX Graphics Cards Run $500 to $1,200

    TiVo shares surged Monday on an anticipated $250 million cash infusion from Verizon after the two companies settled simmering patent litigation. Deal makes it more likely TiVo will participate in Verizon’s new Redbox Instant service, set to roll out later this year. TiVo stock rose more than 9% in early trading after TiVo announced the […]

More From Our Brands

Access exclusive content