TiVo says Verizon will pay it at least $250.4 million to settle a patent lawsuit related to its DVR technology, and the two have a licensing deal.
The Alviso, Calif., digital video recording pioneer says the settlement with Verizon Communications Inc. includes an initial cash payment of $100 million and quarterly payments totaling $150.4 million through July 2018.
Verizon will also pay monthly license fees through July 2018 for each Verizon DVR subscriber above a certain level.
The deal settles the lawsuit TiVo filed against Verizon in federal court in Marshall, Texas. It's the latest in a string of patent settlements for TiVo. Last year it settled with satellite TV providers Dish and EchoStar for $500 million, and earlier this year resolved a lawsuit against Dallas-based AT&T for $215 million.