ARTS & ENTERTAINMENT ENVELOPE COMPANY TOWN

TiVo shares jump on reported Motorola settlement

This post has been updated. See below for details.

Shares of TiVo Inc. jumped more than 8% on Thursday because of a report that the set-top box maker had reached a settlement with Google's Motorola Mobility unit. 

TiVo sued Motorola last year for billions of dollars for patent infringement over its digital video recording technology. Motorola previously hit TiVo with a lawsuit over its DVR technology in 2011. 

Bloomberg News reported Thursday afternoon that TiVo and Motorola had settled the patent dispute, citing a clerk in the trial judge's chambers. The trial was supposed to begin next week, according to Bloomberg.

Michael Boccio, a spokesman for TiVo, said the company had no comment.

A Motorola spokesman said "we're pleased that all parties involved have reached an agreement to resolve pending litigation."

Google bought Motorola in May 2012 for $12.5 billion.

TiVo shares rose $1.05, or 8.3%, to $13.71 at the close of trading in New York. 

ALSO:

'The Purge' may boss 'The Internship' around at box office

BabyFirst, with premium YouTube channel and new investor, expands 

Produced by Conference: A conversation with co-Chair Gary Lucchesi 

Twitter: @rfaughnder

ryan.faughnder@latimes.com

This post was updated to include a response from Motorola.

MORE

ON LOCATION: People and places behind what's onscreen

PHOTOS: Biggest box office flops of 2013

PHOTOS: Celebrity production companies

Copyright © 2014, Los Angeles Times
Related Content
Comments
Loading