EL SEGUNDO and ALVISO, Calif., Sept 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- DIRECTV, Inc. (Nasdaq: DTV), the nation's leading satellite television service provider, and TiVo Inc. (Nasdaq: TIVO), the creator of and a leader in television services for digital video recorders (DVR), announced today that they have extended their current agreement, which includes the development, marketing and distribution of a new HD DIRECTV DVR featuring the TiVo(R) service, as well as the extension of mutual intellectual property arrangements.
Under the terms of the non-exclusive arrangement, DIRECTV and TiVo will work together to develop a version of the TiVo(R) service for DIRECTV's broadband-enabled HD DVR platform. The product will support the latest TiVo and DIRECTV features and services, including TiVo's Universal Swivel Search and TiVo KidZone. TiVo will develop the new HD DVR for an expected launch in the second half of 2009.
DIRECTV will continue to develop and offer its own portfolio of industry leading set top boxes as primary offerings to both new and existing customers. This new TiVo box will be offered as an alternative choice to those DIRECTV customers who would like to add TiVo to a full line up of DIRECTV services.
"We have had a very successful history with DIRECTV. Together we brought the TiVo experience to millions of DIRECTV customers and now we look forward to launching a next generation product that uses TiVo's latest features to truly showcase DIRECTV's broad selection of high-definition programming -- all stitched together with the elegance of TiVo's renowned user experience," said Tom Rogers, TiVo's CEO and president. "This agreement demonstrates our continued embrace of mass distribution opportunities in cooperation with major multichannel operators who recognize the value of giving their customers a choice of compelling user experiences."
Like prior products developed by TiVo and DIRECTV, the new HD offering will be marketed and sold by DIRECTV nationally to its entire customer base as part of its growing portfolio of brand name video offerings. Specific consumer pricing and packaging will be announced in conjunction with DIRECTV's launch of the product.
"As the industry's content and technology leader, DIRECTV has a long-standing reputation for developing innovative, advanced products and services, including our highly successful series of DVRs and HD DVRs," said Chase Carey, president and CEO, DIRECTV, Inc. "We will continue to work with TiVo and make this new product available to all new and existing DIRECTV customers who may want to add TiVo on top of our industry leading experience."
DIRECTV and TiVo began their relationship in 2000 with the launch of the first DIRECTV DVR with TiVo service. In April 2006, the companies announced an extension of their commercial and advertising relationship and those commercial and advertising capabilities are further extended, and now include the new HD platform. DIRECTV and TiVo also recently deployed a software update to existing DIRECTV with TiVo boxes, which enables new features like DIRECTV's Remote Booking.
Financial terms of the deal were not disclosed.
About DIRECTV, Inc.
DIRECTV, Inc. (NASDAQ: DTV), the nation's leading satellite television service provider, presents the finest television experience available to more than 17.1 million customers in the United States and is leading the HD revolution with more than 130 HD channels -- more quality HD channels than any other television provider. Each day, DIRECTV subscribers enjoy access to over 265 channels of 100% digital picture and sound, exclusive programming, industry-leading customer satisfaction (which has surpassed all national cable companies for eight years running) and superior technologies that include advanced DVR and HD-DVR services and the most state-of-the-art interactive sports packages available anywhere. For the most up-to-date information on DIRECTV, please visit directv.com.
About TiVo Inc
Founded in 1997, TiVo (NASDAQ: TIVO) pioneered a brand new category of products with the development of the first commercially available digital video recorder (DVR). Sold through leading consumer electronic retailers, TiVo has developed a brand which resonates boldly with consumers as providing a superior television experience. Through agreements with leading satellite and cable providers, TiVo also integrates its DVR service features into the set-top boxes of mass distributors. TiVo's DVR functionality and ease of use, with such features as Season Pass(R) recordings, WishList(R) searches, and TiVo KidZone, have elevated its popularity among consumers and have created a whole new way for viewers to watch television. With a continued investment in its patented technologies, TiVo is revolutionizing the way consumers watch and access home entertainment. Rapidly becoming the focal point of the digital living room, TiVo's DVR is at the center of experiencing new forms of content on the TV, such as broadband delivered video, music and photos. With innovative features such as TiVoToGo(TM) and online scheduling, TiVo is expanding the notion of consumers experiencing "TiVo, TV your way.(R)" The TiVo(R) service is also at the forefront of providing innovative marketing solutions for the television industry, including the Stop||Watch(TM) commercial and program rankings service, a unique platform for advertisers and media companies. The Company is based in Alviso, California.
TiVo, the TiVo logo, Season Pass, WishList, Swivel, Stop||Watch, TiVoToGo, and 'TiVo, TV your way.' are trademarks or registered trademarks of TiVo Inc. or its subsidiaries worldwide. All other trademarks are the property of their respective owners.
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the timing and nature of future development and distribution of DIRECTV DVRs with TiVo service, the future availability of interactive advertising capabilities and future negotiations between TiVo and DIRECTV on other product initiatives. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the other potential factors described under "Risk Factors" in DIRECTV's public reports and TiVo's public reports, including each company's most recent Annual Report on Form 10-K and subsequent current and quarterly reports filed with the Securities and Exchange Commission. Each of DIRECTV and TiVo cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Each of DIRECTV and TiVo disclaim any obligation to update these forward-looking statements.
SOURCE TiVo Inc.
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