Cable TV

TiVo bears the brunt as DirecTV sells stake

MUMBAI: The US-based digital video recorder (DVR) maker TiVo's stock price fell more than 14 per cent as DirecTV sold its stake in TiVo. The sale has raised speculation that DirecTV wants to develop a DVR of its own.

DirecTV, which provides digital television entertainment, broadband satellite networks and services, and global video and data broadcasting, has confirmed the sale of its 3.4 million shares in TiVo for $24 million, according to reports.

DirecTV Group Inc. vice chairman Eddy Hartenstein's resignation from TiVo Inc.'s director board last week had raised many an eyebrow. The company had played down the resignation saying 'it was part of an effort to reduce certain external obligations in order to focus more time on DirecTV.'

TiVo gets the bulk of its business from a co-marketing agreement they have with DirecTV, provider of digital television entertainment, broadband satellite networks and services, and global video and data broadcasting.

The general perception being that DVRs like TiVo kill television advertisements, News Corp's taking over of DirecTV late last year had raised doubts on the future of the TiVo-DirecTV collaboration.

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