TiVo Nets $490M From Settlement With Google and Cisco

Settlement also resolves pending litigation with Time Warner Cable
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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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