TiVo reaches settlement with AT&T

Digital television recording pioneer TiVo said it has reached a $215 million settlement with AT&T over a patent dispute. The agreement - announced late Tuesday - will see AT&T make an initial payment of $51 million followed by quarterly payments through June 2018 to total $164 million, TiVo said in a press release. AT&T will be required to pay additional fees if its own digital video recording (DVR) subscriber base exceeds a certain level, TiVo said.
"We are extremely pleased to reach an agreement with AT&T, which acknowledges the value of our intellectual property," said Tom Rogers, CEO and President of TiVo.