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TiVo Declares Contract of Certain Litigation With Verizon

TiVo and Verizon Enter Into a Certain Certification and Professional Arrangement

TiVo Inc. declared today that it has resolved its awaiting patent litigation with Verizon Devices Inc. and that the organizations have joined into a common patent licensing agreement. Under the terms of the settlement, Verizon will provide TiVo total settlement worth at least $250.4 thousand. The costs from Verizon to TiVo shall be consists of a $100 thousand initial money payment followed by persistent every quarter costs amassing an additional $150.4 thousand through September 2018. If the organizations engage in certain commercial projects before Dec 21, 2012, up to $29.4 thousand of the costs made by Verizon would be subject to a credit of an equivalent amount. Moreover to the assured settlement, Verizon will also pay monthly certificate fees through September 2018 for each Verizon DVR customer in excess of certain pre-determined levels.
In inclusion to the money costs described above, Verizon and TiVo are discovering, among other things, upcoming submission of Internet video services developed through Verizon's partnership with Redbox by making material allocated via that service aspect of the different selection of straight line and broadband-delivered material accessible to users of TiVo's store DVR products.

As aspect of the settlement, TiVo and Verizon decided to disregard all awaiting litigation between the organizations with tendency. The parties also joined into a combination certificate of their specific patent domain portfolios in the advanced television field.

"We are satisfied to reach a binding agreement with Verizon which emphasizes the significant value our submission associates obtain from TiVo's technologies and our investors obtain from our investment strategies in defending TiVo's ip," said Tom Rogers, CEO and Chief executive of TiVo. "We also look forward to working together on a variety of upcoming opportunities as we continue to flourish the material choices available to TiVo members. As with before agreements, we also benefit by being able to function our business under certificate from Verizon and by preventing upcoming legal costs that we would have suffered during and after test. Furthermore, we believe this settlement roles us well with regard to upcoming enforceability of our patents."

Source : TiVo 8-K filing

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