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US: TiVo said to be in merger talks with Rovi

 |  March 24, 2016

TiVo, the pioneering DVR maker, is in “advanced negotiations” to be acquired by entertainment tech and data company Rovi, the New York Times reported, citing anonymous sources.

TiVo shares soared on the report of the merger talks, rising more than 20% Thursday. Rovi’s stock declined in early trading, before inching up about 1%.

The deal would comprise a mix of cash and stock, with the final price tag still under discussion, according to the report. TiVo shareholders would “probably” own about 30% of the combined company, the Times reported.

If consummated, the deal would bring together TiVo — which has shifted its business to selling software and hardware to pay-TV operators, away from retail sales of DVRs — with Rovi, a supplier of interactive program guides, entertainment metadata and related products to cable and satellite operators, consumer-electronics makers, media and entertainment firms, and Internet companies.

Full Content: Geek Wire

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