TiVo Inc. stock gained 50% Tuesday morning after the digital-video-recorder vendor announced a distribution and marketing deal with Comcast Corp. -- the first MSO to distribute TiVo’s service.
Comcast said it will deploy a DVR service with the TiVo brand in mid- to late-2006. The MSO said it plans to work with TiVo to develop a version of its service, and new software developed by TiVo would be incorporated into Comcast’s existing platforms.
The deal is a huge boost for TiVo, which has faltered since DirecTV Inc., its largest distributor, announced plans in January to roll out its own DVR service.
Comcast and TiVo didn’t disclose the terms of their agreement or the pricing for their new DVR service.
TiVo vice chairman Tom Rogers, a former NBC Cable and Primedia CEO, was involved in crafting the Comcast deal.
TiVo stock was trading at $5.76 per share Tuesday morning, up 50.3%, or $1.93 per share.