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News
Tivo Gets the Check from Echostar: $104M
Wednesday, October 8th, 2008 at 4:00 PM - by John Martellaro
After four years, a court devision in their favor, an appeals court upholding it, and the U.S. Supreme Court declining to hear further arguments, TiVo has received US$104.6M from EchoStar, according to Multichannel News on Thursday.
The actual amount was US$104,600,472 which included an original award of $74M in damages plus interest.
In 2004, TiVo sued EchoStar/Dish Network for patent infringement of its DVR technology. EchoStar fought vigorously and eventually modified their software The Supreme Court ruling was their last hope to avoid payment of the hefty award.
TiVo isn’t done with EchoStar, however. The original DVR company is also awaiting a decision on its request to hold EchoStar in contempt for not immediately disabling the DVR functionality after the initial court ruling.
"We remain confident that the District Court will enforce the injunction and award further damages from EchoStar’s continued infringement of our Time Warp patent," TiVo said in a statement on Thursday.
EchoStar’s competitor, DIRECTV, has been a close partner with TiVo and elected long ago to license TiVo technology. That agreement was recently renewed.
On Thursday, TiVo’s stock was selling at $5.40, down $0.39 for the day.
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