A day after Rovi’s stock dipped almost 12% following a court hearing on its pending patent case with Netflix, the provider of interactive program guides and metadata services issued a statement Thursday stressing that no decision in the case is expected for a couple of months.
Rovi, whose stock was up 1.5% in late-day trading Thursday, said the Northern District Court in Oakland held a hearing on the ongoing Netflix case and that a “speculative report” caused some to jump the gun on the case’s result.
“No decision was made and we remain confident in our arguments and look forward to the judge’s decision, which is expected sometime in the next couple months,” Rovi said. "We remain committed to continuing to enforce our IP against Netflix until the necessary licenses are in place. Only five patents are at issue in this case, and Rovi’s licensable IP portfolio includes more than 5,000 issued patents and pending applications. Rovi has licensed this extensive patent portfolio to other leading OTT providers and is confident that Netflix also requires a license under Rovi’s patents.”