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.