TiVo Announces Settlement of Patent Litigation and Doubling of Stock Repurchase Authorization
Settles Patent Litigation With Cisco, Motorola and Time Warner Cable for $490 Million
Brings Aggregate Awards and Settlements From Intellectual Property Actions to Roughly $1.6 Billion
Increases Stock Repurchase Authorization to $200 Million With Plans to Increase Size of Current 10b5-1 Plan
SAN JOSE, CA -- (Marketwired) -- 06/07/13 -- TiVo Inc. (NASDAQ: TIVO) announced today that it has settled its pending patent litigation with Motorola (now owned by Google and Arris), Cisco and Time Warner Cable and that TiVo has agreed to enter into certain patent licensing arrangements with Arris, Cisco, and Google. As part of the settlement, Google and Cisco will pay TiVo an upfront lump-sum payment of $490 million, bringing the total from awards and settlements related to the use of certain TiVo intellectual property
to roughly $1.6 billion.
In conjunction with approving the terms of the settlement, TiVo's board of directors also approved a major expansion of TiVo's stock repurchase authorization. The board's action doubles the size of the authorization from $100 million to $200 million and extends the stock repurchase plan for an additional two years until August 29, 2015. Additionally, TiVo intends to increase the size of its 10b5-1 trading plan significantly as a result. This will allow TiVo to build on the almost $57 million worth of equity acquired through open market purchases and from tax withholdings on employee restricted share vesting since the time the board of directors first authorized the $100 million stock repurchase plan. This increased and extended repurchase authorization means TiVo will have over $160 million of unused stock repurchase authorization.
"We are pleased to reach an agreement that brings our pending litigation to an end and further 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 Tom Rogers, CEO and President of TiVo. "Further, this settlement significantly enhances our already strong balance sheet, bringing our cash position to over $1 billion before inclusion of future expected payments of at least $400 million from prior settlements. We intend to use our significant capital resources to drive shareholder value, including more aggressively returning capital to shareholders under our newly increased share repurchase authorization and we will be increasing the size of our 10B5-1 trading plan as soon as permissible."
Mr. Rogers added, "Importantly, we just recently closed one of our best quarters ever in terms of subscription growth, driven by a number of our existing operator deals in the U.S. and abroad that are now fully up and running. As a result, we delivered our highest gross margin ever and solid MSO revenue growth of 98% year-over-year, and we expect this MSO revenue growth will continue as we roll out additional deployments. So, as we look out beyond today's important settlement we believe our core operating business will continue to drive growth to both the top and bottom line."
As part of the settlement, TiVo and Motorola, Cisco, and Time Warner Cable agreed to dismiss all pending litigation between the companies. TiVo will recognize a portion of the payment as past damages during the second quarter and the remainder over time. The company intends to provide additional details regarding the timing of revenue recognition in its second quarter fiscal year 2014 earnings report. Further, as a result of this settlement, TiVo expects net income and Adjusted EBITDA to benefit from lower litigation spend in the remainder of its fiscal year ending January 31, 2014 and beyond.
Welp, The Cable Show starts Monday. This is where Tivo introduced the Mini last year.
Knowing that we're getting some new hardware in a few months, what's everybody expecting Tivo to show on Monday, if anything? Or do you think Tivo will be tight lipped a little longer, until CEDIA (Sept 25-28)?
I think we're at least going to see the rumored 6-tuner box finally. Possibly that rumored audible remote too.
No pricing or specific release date details, though. I think they'll say the release will be "later this year" and "pending FCC approval."
Is anybody here going to the show, by chance?
Last weekend of speculation! :)
I am trying to install Streambaby but having issues. I did install Java.
I've attached a print screen of the error. Can someone help me with this?
Please advise. Thanks.
I've got two Tivos, free to a good home:
1. My 'used' Tivo Series 1 - upgraded HDD (can't remember how big, probably 320GB or summut - no promises), Turbonet card (with CAT5 cable terminated in plug hanging out the back), configured for AltEPG over the network, TivoWebPlus installed (probably a few other odds and sods as well). Not reset, not wiped, just as it was when I pulled the plug on it for the final time a couple of weeks ago (fans of "Ben and Holly" and/or "Peppa Pig" will probably be quite fortunate with this one!). Works great.
2. A virtually "as new" boxed Series 1 - that I don't believe has been through initial setup, and is completely original in every way. I can't remember if I've 'borrowed' the remote control from this one or whether there is still a new remote in the box - it's at the back of my wardrobe and I cant remember (will dig it out if there's any interest and can advise later).
I've got at least two, if not three, original silver Tivo remotes to go with these - I'll probably let the "as new" Tivo go with the best condition remote, the next best with the "used" Tivo and the third remote to whoever collects a Tivo first and wants it. Strangely the wear on most of the remotes is restricted to the silver paint rubbing thin - the buttons are typically quite legible even after 10+ years of use (unlike the new VirginMedia Tivo - I'm on my second remote already - text rubs off the damn buttons!).
So - drop me a PM or post on here if you're interested. Collection from Swindon, Wiltshire.
Tivo premiere decided to freak out this morning. I got a message that the guide had run out (confirmed with Tivo support that the guide had not run out and they had a record of successful connections).
Then went to my shows and they had been completely cleared. All saved shows lost. Season pass information is still there and it seems to be recording and functioning normally now. Recently Deleted also completely clear. Messages still intact though.
Any ideas on how this might have occurred? Sounds like a huge software glitch to me. Has anyone else experienced this?
I have a Series 3 (TCD648250B) lifetime with the original 250 GB internal HD plus an external 1 GB HD. Current firmware.
Is it possible to make a new internal 2 GB HD and retain everything (programs, season's passes, cablecard info) using MFSLive or WINMfs or some other tool?
I've read everything on Spike's forum, all the FAQs and help files, and there is conflicting info on whether this is possible or not.
Any input appreciated, as well as (if it's possible to do what I need) whether the Western Digital WD AV-GP WD20EURS, currently on sale at the Egg for $90, will work. Seems to me I remember something in the dim distant past about WD Green drives not beeing able to boot on S3 Tivos.
For some reason, the 6/11 episode was not picked up by my Season Pass. I had to add it manually.
Does anyone know the fate of TiVo in Australia?
I have recently been in contact with TiVo support in Australia as I have had my TiVo for over 4 years and want to get the latest model. Their response was ...
"The TiVo Media Device is no longer available for purchase in Australia. However, Hybrid Television Services remains the licensed provider of the TiVo Service in Australia and confirm their continued support of TiVo customers. The business remains committed to supporting the TiVo brand in Australia and providing the TiVo service including TiVo EPG, TiVo Genie, firmware updates, customer support, warranties and repairs."
I see that TiVo and Virgin Media are in Partnership in the UK and the new models in the US look awesome. What I would like to see is TiVo to release Australian version of their Premiere, mini and stream.
Please TiVo do not forget about Australia... :(
One of the features that my wife likes with Time Warner's DVRs (I know, I know) is that it allows multiple favorites lists so we could have one for the kids, one for her, etc.
The good news is that I've talked her into going back to Tivo anyway, but this would be a nice feature in the future.
...and that, kids, is why you should never play with fireworks!
Will Elliot's woes ever end? I think he puts himself in the situations because he's a drama queen. And what's the deal with Val? A couple seasons ago, she was taking out a restraining order on him. Now she's accusing him of seeing another woman?
Like new. Series 3 DVR with Western Digital 500 GB Hard Drive Expander
Kept in a home theater cabinet, smoke free home.
I've upgraded to a new premier XL DVR and no longer need this Series 3.
I used with Verizon Fios with cable cards and it worked really well.
The DVR and WD HD come in the original boxes.
Listed on ebay with a starting bid of $240 or a buy it now of $315.
My ebay rating is 100% positive feedback.
This forum won't let me post my ebay link, but search on my user name RichardnVA and Tivo Series 3 plus HD expander and you should find my posting.
Please email me if you have questions or a better offer.
Just a heads up (albeit a bit late - I meant to post this sooner) that Redneck Island returns for its third season tonight at 10:30 ET/9:30 CT on CMT. If you miss the premiere, fear not - it repeats several times between now and Saturday.
One of my guilty pleasures. :)
Not sure if anyone else is watching this, but I enjoyed it (I love period dramas).
The season finale on June 16 will now be the series finale.
They may do a 2 hour movie to wrap things up, but we've heard that before for a lot of shows that ended prematurely, and it rarely pans out.
I am bummed :(
Haven't watched last night's premiere yet...reviews?
Vubiquity Launches AnyVU Streaming With TiVo
ViewNow Subscription Movies to Be First Package Featured
Vubiquity and TiVo to Demo Integrated Solution at The Cable Show, Booth 2007
SHERMAN OAKS and SAN JOSE, Calif., June 5, 2013 /PRNewswire/ --*Vubiquity, the largest global provider of multiplatform video services, and TiVo today announced a partnership integrating Vubiquity's AnyVU Streaming service with the TiVo user experience. AnyVU Streaming allows service providers to quickly launch a multiplatform offering with a deep content library. The TiVo user interface foundation will now allow for integration of ViewNow, Vubiquity's subscription movie package, which offers thousands of HD and SD titles in a variety of formats for viewing on any device.
AnyVU Streaming for TiVo is an end-to-end multiplatform video solution that allows any service provider to launch TV Everywhere services quickly. Vubiquity's partnership with TiVo allows each organization to focus on its strengths. TiVo provides a consistent user experience across set-top boxes, PCs, tablets and mobile phones, while Vubiquity manages the distribution and streaming of a deep catalog of movie assets, trailers, metadata and artwork directly to an end-user's connected device. Vubiquity and TiVo will demonstrate the integrated AnyVU streaming service, featuring ViewNow content, next week at the Cable Show, booth #2007.
"TiVo works with numerous service providers to deliver dynamic advanced TV services to all their customers' media devices," said Thomas Elam, TiVo's vice president and general manager, U.S. Service Provider Business. "Vubiquity's ViewNow service brings subscription movies to any device, anywhere, making it a natural addition to our strategy of providing the highest quality TV viewing experience to the subscriber one that seamlessly and easily allows them to access all the content they love, whenever and wherever they want it."
ViewNow, which is currently available to more than 10 million U.S. households, offers thousands of hours of movie content from major and independent studios that can be delivered in MPEG-2 and MPEG-4 as well as in a range of adaptive bitrate (ABR) profiles to allow for delivery to traditional set-top boxes as well as multi-platform devices such as PC and Mac, iOS and Android phones and tablets, and a range of other connected devices. In addition to multiplatform rights, the service includes download rights on a large number of titles.*
"The AnyVU Streaming Service enables seamless access to a rich library of content, accelerates time to market, and leverages Vubiquity's economies of scale," said Doug Sylvester, president of Vubiquity. "The combination of AnyVU Streaming, ViewNow, and TiVo enables service providers to launch a complete end-to-end service to consumer devices quickly with the deep content catalog that consumers want and the robust and intuitive user experience that is TiVo's hallmark."
I have a Tivo HD 160GB model R6521P (I think). I'm getting the S03 and I've tried Kickstart 57 and 58 to no avail. Also the Kickstart 54 found no issues. I have a 1TB WD DVR extender and I have a ton of shows I want to keep.
I'm thinking that it's the hard drive. So, 3 questions:
1. What's the likelihood replacing the drive will fix my issue?
2. If I just clone the HD onto a new 160GB drive, will that keep my shows?
3. Can I clone it to a larger drive, keep my shows and add end up with more HD space in the process?