News Summary: TiVo reaches settlement with Verizon

AP News
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Posted: Sep 24, 2012 12:36 PM
News Summary: TiVo reaches settlement with Verizon

THE SETTLEMENT: Verizon will pay Tivo at least $250.4 million to settle a patent lawsuit related to its DVR technology, and the two signed a licensing deal. The two companies also agreed to dismiss all pending litigation.

OTHER DEALS: The deal with Verizon is the latest in a string of patent settlements for TiVo, which developed the first commercially available DVR. Last year it settled with satellite TV company Dish Network Corp. and its set-top box provider EchoStar Corp. for $500 million, and earlier this year resolved a lawsuit against AT&T Inc. for $215 million.

THE IMPACT: The settlements bring Tivo closer to profitability.