By Steve Donohue -- Multichannel News, 4/12/2006 12:56:00 PM MT
In a big score for CEO Tom Rogers, TiVo Inc. extended its contract with DirecTV Inc. through February 2010.
TiVo stock -- which has been battered in the past year after DirecTV announced plans to market its own digital-video recorders -- was trading up 5.33% (40 cents per share) at $7.91 Wednesday morning on the news.
According to a TiVo Securities and Exchange Commission filing Wednesday, DirecTV -- which saw delays in the rollout of its DirecTV DVR -- will continue to pay TiVo for maintenance and support for DirecTV receivers through February 2010. DirecTV will also have the right to distribute DirecTV receivers with TiVo through February 2007.
Comcast Corp. is expected to market TiVo-branded DVRs by the end of 2006.
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