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.
Related articles:
Pandora Premieres Station Will Preview Upcoming Albums Before Release
AT&T Won't Charge Oklahoma Tornado Victims Any Overage Fees
Skype Messages Found To Be Not As Private As You Might Think
Lego Railway Is Longest Plastic Toy Train Track In The World
