Quick Note: TiVo Gets Over $250 Million USD from Verizon in Patent Case
September 24, 2012 7:15 PM
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TiVo may also have its boxes support Verizon's upcoming video streaming efforts with Redbox
Verizon Communications is paying TiVo Inc. a little over $250 million USD to settle a patent lawsuit, which could potentially lead to other court victories for TiVo.
TiVo, the digital video recorder box company, will receive $250.4 million from
in a patent lawsuit regarding TiVo's digital video technology. Verizon will pay $100 million right away in cash, and pay the other $150.4 million via quarterly payments through July 2018.
But that's not all TiVo gets out of the deal. TiVo may also have its boxes support Verizon's upcoming video streaming efforts with Redbox, which will help them
compete with Netflix
. Also, Verizon will pay licensing fees to TiVo on a monthly basis through July 2018 on a per-DVR customer deal.
Verizon gets something out of the deal, too -- all other pending litigation between the two has been put to rest.
TiVo is involved in many patent lawsuits concerning its video recording technology. Some of the other companies it's facing in court is Time Warner Cable and Motorola Mobility. The settlement with Verizon may set an example for Time Warner Cable and Motorola Mobility to settle as well.
TiVo has also won patent litigations against AT&T,
EchoStar Corp and DISH Network
all in the last year.
This article is over a month old, voting and posting comments is disabled
9/26/2012 1:13:30 PM
No my reason for being OK with is it,is that it was truly innovative and thus deserves protection. It was genuinely unique, and I find it sad that the ones breaking ground were so easily ripped off by the generic DVR boxes we have today.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
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