Rovi Pulls Out Of GuideWorks Venture With Comcast3/02/2010 3:38 AM Eastern
Comcast has become the sole owner of interactive program guide firm GuideWorks, as Rovi announced Monday that it has exited the joint venture with the operator.
Meanwhile, Rovi said it also expanded its relationship with the nation's largest cable operator to include enhanced entertainment metadata products as well as an expanded license under Rovi's patents across mobile, online and other Comcast distribution platforms.
Financial terms of the transaction were not disclosed. GuideWorks, founded in 2004, was owned 51% by Comcast and 49% by Rovi. Under the arrangement, Rovi has had the rights to distribute the i-Guide IPGs to other operators.
Rovi president and CEO Fred Amoroso said in a statement that "as we assessed our options, we realized that much has changed in the market since the formation of GuideWorks and as a result, we believe that now is an appropriate time to exit the venture, and realign our portfolio and investments towards solutions we have direct control over and can use across a broad set of platforms and markets."
Rovi will continue to distribute its i-Guide product and its current customers will continue to receive i-Guide product updates and new downloads, the company said. Rovi expects the next major i-Guide release to be delivered to customers in 2011.
The i-Guide IPG has been deployed by Comcast, Time Warner Cable, Charter Communications, Insight Communications, Mediacom Communications, Bresnan Communications and others.
Rovi, which changed its name from Macrovision Solutions last summer, acquired Gemstar-TV Guide International in 2008 in a deal worth $2.8 billion.
GuideWorks is based in the Philadelphia suburb of Radnor, Pa., with an office in Englewood, Colo.