Rovi’s proposed $1.1 billion acquisition of TiVo was given the go-ahead by the Federal Trade Commission and the antitrust division of the U.S. Department of Justice on Monday (July 11), after they announced an early termination of the antitrust review of the deal.
The proposed acquisition is still subject to other closing conditions, including approval by both Rovi and TiVo stockholders. Rovi still expects to close the deal by the third quarter.
“We are delighted to reach the important milestone of obtaining clearance from the Federal Trade Commission and the Department of Justice, which brings us one step closer to joining forces with TiVo,” said Rovi CEO Tom Carson, in a statement.
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