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By Joseph Marks
Aug. 22 — Rovi Corp. has renewed a 10-year patent licensing deal with Dish Network Corp., the company announced Aug. 22, foreclosing concerns about a bruising legal battle.
The digital TV technology licensor warned in its most recent quarterly financial statement that potential litigation against Dish could “result in a reduction of revenue and an increase in litigation costs.” The Dish license expired April 5. Rovi’s licensing revenue declined 3 percent during the most recent quarter, according to the filing.
Rovi is suing Comcast Corp., which declined to renew a license that expired in March (64 PTD, 4/4/16).
Rovi shares closed at $20.98, up $1.32 from Friday. Shares had fallen as low as $15.21 in June.
Rovi relied on licensing for 54 percent of its revenue in 2015, according to Securities and Exchange Commission filings.
“With this most recent renewal, Rovi now has nine of the top 10 U.S. pay-TV operators under license, with significant recent momentum, as seven of those agreements have been signed over the last seven quarters,” Rovi CEO Tom Carson said in a news release.
Other Rovi licensees include Google parent Alphabet Inc., AT&T Inc., Cablevision Systems Corp. and Time Warner Cable Inc.
Rovi announced plans in April to purchase Tivo Inc. for $1.1 billion, joining two large and litigious patent holders in the digital TV arena (84 PTD, 5/2/16).
Since 2010, Rovi has filed infringement claims against Hulu LLC, Roku Inc., Lenovo Inc. and more than a dozen other defendants.
To contact the reporter on this story: Joseph Marks in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Mike Wilczek at email@example.com
The Rovi press release: http://pr.rovicorp.com/file/4206196/Index?KeyFile=35578623.
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