As if things weren't bad enough for AT&T after it has to dump the T-Mobile buyout deal, the carrier has now also resigned to Tivo on the order of $215 million.
It isn't going to be a pretty quarter for AT&T and it certainly isn't the way to start a new year. The company had been embroiled in a patent infringement lawsuit, brought forth by Tivo.
The two have struck an agreement wherein AT&T will make scheduled payments to give Tivo a total of $215 million, and in addition it will also have to pay a perpetual monthly licensing fee.
This comes at a time when AT&T is also looking to give T-Mobile a sum total of $4 billion.
The fee is a result of AT&T's admitted failure in securing a T-Mobile buyout. Under the terms of the acquisition contract, AT&T has to fork over a lot of money as a concession for wasting T-Mobile's time.
Tivo said it was pleased with the outcome and expects the deal to boost its business and allow it to spend more on furthering its strategy moving forward.
Tivo of course is not in great shape either. It has been struggling to prove itself relevant in a market where everyone gets DVR service from their cable provider and many others can access streaming content directly from their TV.
Mark Raby Based in New York City, Mark follows the consumer electronics industry like a hawk. A published book author, he has a particular affinity for 3D technology and video games, and as such will surely be in the market for a new pair of glasses soon. Mark can be contacted directly at email@example.com.
The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.
The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.