While some patent lawsuits continue to drag on, the battle between TiVo and Verizon over DVR technology has come to a resolution. In exchange for cross licensing their patents and dismissing all pending litigation, the two parties have agreed Verizon will pay TiVo $100 million up front followed by recurring quarterly payments totaling $150.4 million through July 2018, as well as monthly license fees for each FiOS DVR user above certain levels. Now that they're no longer at war the two companies may find a few things to work together on, and there is a provision for "certain commercial initiatives" which, if pursued this year, could count as credits toward the amount Verizon has agreed to pay.
Additionally, the press release indicates they are exploring support for the upcoming Redbox Instant service (which Verizon is a partner in) on TiVo's DVRs. This all follows TiVo's $215 million settlement with AT&T earlier this year and last year's $500 million agreement with Dish Network. Meanwhile, lawsuits are still pending against Cisco, Time Warner Cable and Motorola. The press release is after the break and associated filings are linked below, with any luck this infusion of cash will help TiVo on new projects like dropping the price of the Stream.
[Thanks, Dave Zatz]