Rovi-TiVo May Merge
Digital recorder company TiVo — which helped start consumer’s shirt to DVR and time-shifted viewing, is said to be in talks to be sold to Rovi.
Rovi is one of the largest owners of digital entertainment device patents.
TiVo shareholders would receive a combination of cash and stock, though the final price is still being negotiated, reported the New York Times.
TiVo, estimated to have a market value of some $750 million; its shareholders would likely end up owning about 30% of the combined entity. Rovi’s market value is about $1.7 billion.
Sources told the Times that an investor from Engaged Capital pressed Rovi to review its strategy and seek the merger.