Rovi Corp. (ROVI), DISH Network (DISH) Enter 10-Year Patent Renewal Licensing Agreement
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Rovi Corporation (Nasdaq: ROVI) announced that it signed a 10-year patent renewal license agreement with DISH Network L.L.C., a subsidiary of DISH Network Corporation (Nasdaq: DISH). In addition, this agreement will continue DISH’s license to Rovi’s Conversation Services natural language platform, as well as other Rovi products.
Tom Carson, president and CEO of Rovi, said, “Our renewal with DISH further validates the long-term value and relevance of our intellectual property portfolio, reinforcing the importance of Rovi’s intellectual property (IP) with both traditional and next-generation pay-TV service providers. 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’s quarter-century of investment in research and development has enabled it to generate one of the world’s leading media and entertainment patent and product portfolios. The company’s commitment to innovation enables the delivery of products that touch practically every aspect of consumers’ day-to-day interaction with their entertainment, and helps licensees build customized, next-generation digital entertainment solutions for users around the globe.
The patent license renewal is subject to certain contingencies relating to the closing of Rovi’s acquisition of TiVo Inc., which we expect to become effective on September 7, 2016, subject to obtaining the approval of the TiVo and Rovi stockholders and satisfaction of other customary closing conditions. For further details on the terms of this license agreement, please see Rovi’s Current Report on Form 8-K filed today.
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