Summary: TiVo announced on Tuesday that it has teamed up with CBS Interactive, Reuters plc and Forbes magazine to offer web video content on TV sets. This move is a way for the company to differentiate itself from cable digital recording services, which are cheaper than TiVo. The company has also developed software that will allow playback of video downloaded to PC's from sites like Google. Once on a PC, the video must first be translated into a TiVo compatible format. In early 2007, TiVo subscribers will also have access to Home Movies Service, which will allow them to share home videos with with other TiVo subscribers through their TV sets. The news sent shares up 33 cents to $6.25, up 5.6%.
Related links: Media coverage: Wall Street Journal , C21Media. Commentary: TiVo and the Future of Microcontent • Who Will Acquire TiVo?. Conference call transcripts: TiVo Inc. F2Q07.
Potentially impacted stocks and ETFs: TiVo (NASDAQ:TIVO), CBS Corp. (NYSE:CBS), Reuters Group plc (RTRSY) • Competitors: DIRECTV Group (NASDAQ:DTV), Comcast Corp. (NASDAQ:CMCSA), Echostar Communications (NASDAQ:DISH) • ETFs: PowerShares Dynamic Media (NYSEARCA:PBS),
Seeking Alpha is not affiliated with Reuters.