Traders Cheer Blockbuster (BBI), TiVo (TIVO) OnDemand Agreement
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Blockbuster Inc. (NYSE: BBI) and TiVo Inc. (Nasdaq: TIVO) today announced they are joining forces to deliver Blockbuster's library of premium digital movie titles directly to the television set via TiVo® DVRs.
BLOCKBUSTER OnDemand, featuring content to both buy and rent, will be integrated into TiVo Series2(TM), Series3(TM), TiVo HD, and TiVo HD XL DVRs.
TiVo DVRs will be sold at thousands of Blockbuster® stores nationwide as well as online at blockbuster.com, giving both companies new distribution outlets and putting TiVo DVRs and BLOCKBUSTER OnDemand front and center of where video shopping takes place. Additionally, the companies will implement a cross-marketing campaign.
The companies expect to have the BLOCKBUSTER OnDemand service integrated into TiVo DVRs in the second half of 2009.
UPDATE: Investors are cheering the move this morning: shares of Blockbuster are currently up 15% to $0.85, while shares of TiVo are up 7% to $7.47.
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