TiVo (TIVO), Rovi (ROVI) Said in Merger Talks

(Updated - March 24, 2016 9:39 AM EDT)

TiVo (NASDAQ: TIVO) said in merger talks with Rovi Corp. (NASDAQ: ROVI), according to the New York Times.

UPDATE - Under the deal, TiVo shareholders would receive a combination of cash and stock. The exact price is still being negotiated, though TiVo last had a market cap around $750 million.

Rovi is one of the largest owners of patents for digital entertainment devices.

Shares of TiVo are up over 15 percent early.

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