TiVo (TIVO) Comments on Court Ruling on Contempt Sanctions Against EchoStar
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TiVo Inc. (Nasdaq: TIVO) offered the following statement today regarding the contempt sanctions ordered by the United States District Court, Eastern District of Texas, in the lawsuit against EchoStar Communications Corporation (Nasdaq: SATS):
"We are pleased by the Court's ruling to impose contempt sanctions of approximately $200 million against EchoStar for its continued violation of a Court-ordered permanent injunction, and to award TiVo its attorney fees and costs incurred during the contempt proceedings. This brings total damages and sanctions in this case to approximately $400 million through July 1, 2009, plus attorney fees, and is exclusive of potential further damages and sanctions.
Additionally, we are pleased that the Court 'will seriously entertain the award of enhanced sanctions' if 'EchoStar is unsuccessful on appeal and nevertheless continues to disregard this Court's orders.'
We are confident that this ruling brings us closer to final resolution."
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