TiVo gets $250.4 million in settlement with Verizon

TiVo has been a pioneer in the technology which enables users to record TV shows. On that front, it has a number of important DVR patents to its name. Back in 2009, the company sued both AT&T and Verizon over alleged infringement of three of its DVR patents.

AT&T eventually agreed to pay TiVo a whopping $215 million as part of the settlement. And now Verizon has agreed to cough up $250.4 million to finally end its legal battle with TiVo.

As part of the settlement, Verizon is required to pay $100 million before this month expires. The rest of the sum is to be paid in 25 quarterly payments by the end of 2018. TiVo has a history of winning profitable settlements with a number of companies who have infringed its patents.

A Verizon spokesperson commented on this $250.4 million settlement in the following words, “We are pleased to have reached settlements with both TiVo and ActiveVideo in these two matters.”

Verizon and TiVo have also agreed to a cross-licensing deal as part of the settlement. As per this deal, Verizon would be liable to pay a higher monthly license fee if its DVR subscribers grow beyond a certain number.

This article was filed in Homepage > General and was tagged with tivo and Verizon. The story was spotted on news.cnet
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