Report: Rovi seeks to acquire, merge with TiVo
By Mike Snider March 24, 2016 11:53 am
Entertainment tech company Rovi is seeking to acquire digital video recorder pioneer TiVo, according to a report in The New York Times.
After the merger, TiVo shareholders would likely own about 30% of the combined company, persons close to the situation told the Times. Rovi’s market cap is about $1.7 billion, while TiVo is valued at $750 million. The deal is expected to involve a combination of cash and stock, but the exact price is still being negotiated, according to the Times.
Both companies declined comment to USA TODAY.
Shares of TiVo (TIVO) were up 20% to $9.20 after the Times report hit. Rovi (ROVI) were down slightly at $19.97.
Rovi has more than 5,000 issued or pending patents used in its creation of programming guides and discovery tools for TV makers and online video providers. TiVo pioneered the move to digital video recorders for pay TV, allowing users to record, pause and rewind TV.
The latest TiVo set-top box, the Bolt ($299.99-up) incorporates 4K video and streaming video services, as well as a new QuickMode for watching sports and other recorded content 30% faster.
Follow Mike Snider on Twitter: @MikeSnider
By Mike Snider March 24, 2016 11:53 am
Entertainment tech company Rovi is seeking to acquire digital video recorder pioneer TiVo, according to a report in The New York Times.
After the merger, TiVo shareholders would likely own about 30% of the combined company, persons close to the situation told the Times. Rovi’s market cap is about $1.7 billion, while TiVo is valued at $750 million. The deal is expected to involve a combination of cash and stock, but the exact price is still being negotiated, according to the Times.
Both companies declined comment to USA TODAY.
Shares of TiVo (TIVO) were up 20% to $9.20 after the Times report hit. Rovi (ROVI) were down slightly at $19.97.
Rovi has more than 5,000 issued or pending patents used in its creation of programming guides and discovery tools for TV makers and online video providers. TiVo pioneered the move to digital video recorders for pay TV, allowing users to record, pause and rewind TV.
The latest TiVo set-top box, the Bolt ($299.99-up) incorporates 4K video and streaming video services, as well as a new QuickMode for watching sports and other recorded content 30% faster.
Follow Mike Snider on Twitter: @MikeSnider
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