TiVo has reached a settlement with Verizon over its DVR technology
Verizon has agreed to pay digital video recorder TiVo at least $250.4 million to settle all litigation between the companies.
According to a regulatory filing, Verizon will give TiVo an upfront cash payment of $100 million by Sept. 28, followed by 25 recurring quarterly payments totaling $150.4 million. The agreement, which expires July 31, 2018, also includes a cross license provision for both companies' advanced television patents.
In addition, Verizon will pay higher monthly license fees for each FiOS DVR user if the growth of Verizon's DVR subscriber base tops certain predetermined levels. And if the two reach a "commercial services arrangement" before Dec. 21, Verizon may earn a credit of up to $29.4 million against the quarterly payments.
The deal is the latest reached by TiVo, a pioneer in the technology that allows viewers to record TV shows. Rather than selling its own DVR boxes, the company of late has focused on working with cable and satellite operators to distribute its technology, and TiVo has pursued many lawsuits to do so.
TiVo reached a ... [Read more]
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