TiVo Nets $490M From Settlement With Google and Cisco

Settlement also resolves pending litigation with Time Warner Cable

By Jeff Baumgartner -- Broadcasting & Cable, 6/7/2013 9:22:44 AM

TiVo announced Friday that it will receive an upfront lump-sum payment of $490 million to settle pending patent litigation with Google's Motorola Mobility unit and Cisco Systems, while also settling its pending litigation with Time Warner Cable.

TiVo said it will recognize a portion of the payment as past damages during the second quarter, "and the remainder over time." TiVo expects to provide more information on that timing of that revenue recognition in its second quarter earnings report.

With the latest settlement figure factored in, TiVo said it has been awarded roughly $1.6 billion in awards and settlements. TiVo has raked in more than $1 billion from past settlements with Dish Network, AT&T and Verizon Communications.

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