Verizon to pay TiVo $250 million to settle patent case

Verizon agreed to pay TiVo $250.4 million to settle a patent infringement case on Monday.

Verizon also agreed to pay a monthly fee to license TiVo's digital video recording technology through July 2018. 

TiVo developed the first commercially available DVR, but its popularity dipped when cable and satellite providers began offering their own versions of the technology.

"We are pleased to reach an agreement with Verizon which underscores the significant value our distribution partners derive from TiVo's technological innovations and our shareholders derive from our investments in protecting TiVo's intellectual property," said Tom Rogers, TiVo's CEO. "We also look forward to working together on a variety of future opportunities as we continue to expand the content choices available to TiVo subscribers."

TiVo has also reached licensing settlements with AT&T and Dish Network.

Lawsuits against Google's Motorola Mobility and Cisco Systems are pending.

Verizon struck a separate $260-million settlement on Monday with ActiveVideo over its video-on-demand feature. 

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