Key Developments For TiVo Inc.
TiVo Inc. (TIVO.O) (Consolidated Issue listed on NASDAQ Global Market)
TiVo, Inc. Statement On U.S. District Court For The Eastern District of Texas Ruling On Contempt Sanctions Against EchoStar Communications Corporation
TiVo, Inc. announced the following statement, regarding the contempt sanctions ordered by the United States District Court, Eastern District of Texas, in the lawsuit against EchoStar Communications Corporation. TiVo, Inc. is pleased by the Court's ruling to impose contempt sanctions of approximately $200 million against EchoStar for its continued violation of a Court-ordered permanent injunction, and to award TiVo its attorney fees and costs incurred during the contempt proceedings. This brings total damages and sanctions in this case to approximately $400 million through July 1, 2009, plus attorney fees, and is exclusive of potential further damages and sanctions. Additionally, the Court 'will seriously entertain the award of enhanced sanctions' if 'EchoStar is unsuccessful on appeal and nevertheless continues to disregard this Court's orders.
TiVo, Inc. Issues Q3 2010 Outlook; Profit and EBITDA Outlook Below Analysts' Estimates; Files Complaints For Patent Infringement Against AT&T And Verizon Communications In United States
TiVo, Inc. announced that for the third quarter of 2010, it expects service and technology revenues in the range of $46 million to $48 million, a net loss in the range of ($10) million to ($8) million, and adjusted EBITDA in the range of ($2) million to breakeven. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $47 million, net profit of ($5.11) million and EBITDA of $1.43 million for the third quarter of 2010. TiVo, Inc. also announced that it has filed complaints in the United States District Court, Eastern District of Texas against AT&T Inc. and Verizon Communications, Inc. for infringement of the following three TiVo patents U.S. Patent Nos. 6,233,389 B1 (Multimedia Time Warping System), 7,529,465 B2 (System for Time Shifting Multimedia Content Streams), and 7,493,015 B1 (Automatic Playback Overshoot Correction System). The complaints seek damages for past infringement and a permanent injunction, similar to that issued by the United States District Court, Eastern District of Texas against DISH/EchoStar.
TiVo, Inc. Statement On Developments In Lawsuit Against EchoStar
TiVo, Inc. announced that on August 3, 2009, the United States Patent and Trademark Office (PTO) issued an Office action with respect to Claims 31 and 61of TiVo's Multimedia Timewarping System patent, U.S. patent number 6,233,389 (the Barton Patent), preliminarily rejecting the patent claims. TiVo offered the following comment on the PTO preliminary finding: "The Office action is a preliminary finding, entered in the normal course before TiVo has had any opportunity to present its views. TiVo believes that the PTO's preliminary finding will not affect EchoStar's appeal of the June 2009 ruling by the United States District Court for the Eastern District of Texas finding EchoStar to be in contempt of court."
RCN Selects TiVo, Inc. As Its Primary DVR Platform
TiVo, Inc. and RCN Corporation announced that it has entered into a strategic relationship for RCN to offer co-branded, uniquely configured TiVo High Definition DVRs to its residential and small business customers. With TiVo as its primary DVR offering, RCN will provide customers with the richest DVR feature set and converged television and internet experience available.
TiVo, Inc. And Best Buy Co., Inc. Form Strategic Alliance To Transform Home Entertainment Experience
TiVo, Inc. announced that it has entered into a strategic alliance with Best Buy Co., Inc. designed to transform the digital home entertainment experience. The alliance seeks to drive greater distribution of TiVo products and its user experience, and to provide Best Buy with a digital platform in the home to strengthen its customer relationships. For Best Buy, the alliance is a major step intended to accelerate its evolution in digital media and better serve the needs of its customers. As part of the agreement, TiVo and Best Buy plan to investigate development of a unique user interface for TiVo DVRs purchased at Best Buy which would provide Best Buy a platform to more effectively market its digital content services, to regularly offer consumers trusted advice and guidance on the digital home experience, and to provide an ongoing dialogue with customers about Best Buy's various retail offerings.
