Rovi Corporation (ROVI) - NASDAQ
  • Fri, Apr. 29, 9:38 AM
    • TiVo (NASDAQ:TIVO) is up 6.2% out of the open after news of Rovi's (NASDAQ:ROVI) $1.1B deal to buy the company this morning -- a move short of the 14% premium to yesterday's close that Rovi is paying.
    • TiVo's at $10.01 vs. the $10.70/share offer; Rovi is up 11%. The deal, combining two similar companies in the world of DVRs and electronic program guides, is expected to be accretive to adjusted profit within 12 months.
    • Rovi pays $2.75/share in cash and another $7.95 a share in stock in a new holding company for the combination.
    • That leaves current Rovi shareholders owning 66.8%-72.9% of the company; it's expected to be a tax-free exchange for TiVo shareholders.
    • The combination will keep the TiVo name but be led by Rovi chief Tom Carson, and sport revenue of more than $800M. Interim TiVo CEO Naveen Chopra says it's "the logical next step."
    • Now read TiVo: A Step In The Right Direction, But... »
    | Fri, Apr. 29, 9:38 AM | 2 Comments
  • Fri, Apr. 29, 7:12 AM
    • Rovi (NASDAQ:ROVI) acquires TiVo for $10.70 per share in a deal the company believes is made in synergy heaven. The price is a 14% premium to Tivo's closing level yesterday.
    • The combined entity expects to generate at least $100M in annual cost synergies, with a whopping 65% realized within a year.
    • Rovi expects to receive a boost to EPS within a year.
    • Previously: TiVo +6.2% as Rovi postpones call, raising buyout hopes (April 28)
    | Fri, Apr. 29, 7:12 AM
  • Thu, Apr. 28, 7:04 PM
    • Shares in TiVo (TIVO +2.1%) are up 6.2% after hours, riding a spike that came when Rovi (ROVI -3.2%) elected to unexpectedly postpone its quarterly results call to tomorrow morning at 8 a.m. ET.
    • That's made hopefuls of TiVo shareholders expecting a Rovi buyout, Jeff Baumgartner notes. The two were linked last month in "advanced negotiations" for a TiVo sale to Rovi, and Bloomberg reported this month that discussion was centered on the long-term value of patent portfolios.
    • Rovi shares were flat in after-hours action.
    • Rovi call link
    • Updated: Bloomberg reports sources saying a deal is near, perhaps tomorrow, at a premium of about 10%. That implies a value of about $1B for TiVo, vs. Rovi's market value of $1.4B.
    • Now read TiVo: A Step In The Right Direction, But... »
    | Thu, Apr. 28, 7:04 PM | 4 Comments
  • Thu, Mar. 24, 9:41 AM
    • The NYT reports DVR hardware/software provider TiVo (TIVO +17.4%) is in "advanced negotiations" to sell to program guide/content protection IP provider Rovi (ROVI -2%). TiVo has blasted off on the report, while Rovi is down moderately.
    • TiVo shareholders would reportedly receive cash and stock, and "probably" own ~30% of the combined company.  Rovi activist Engaged Capital (won two board seats last year) is said to have pushed for a merger with TiVo.
    • In addition to its DVR-related offerings, TiVo provides cloud-based content discovery services and set-top/portal server software for emerging markets, thanks to its acquisitions of Digitalsmiths and Cubiware. Both TiVo and Rovi derive a large % of their sales from pay-TV providers.
    | Thu, Mar. 24, 9:41 AM | 3 Comments
  • Feb. 27, 2015, 4:02 PM
    • ROVI spiked higher shortly before the close on a report it's seeking to hire a strategic advisor amid pressure from activists.
    • Shares previously had more moderate gains following the pricing of the company's $300M convertible offering.
    | Feb. 27, 2015, 4:02 PM
  • Nov. 3, 2014, 11:38 AM
    • Fanhattan has developed a set-top (called Fan TV) that provides integrated access to live TV, on-demand, and Web video content. The startup has also developed a zero-button (touch-based) remote, a UI with various content search, discovery, and social recommendation tools, and a complementary iOS app.
    • Rovi (ROVI +1.2%), which has been trying to grow its sales of software and digital services (including its widely-used programming guides) to pay-TV providers to offset the decline of its legacy analog content protection business, has bought Fanhattan for an undisclosed amount of cash.
    • Rovi promises combining its offerings with Fanhattan's will yield "a scalable and modular cloud-based platform supporting IP and hybrid STB boxes, DVR functionality and personalized interactive user-interfaces through reference design hardware and a software development kit." Fanhattan already has deals with Cox and Time Warner Cable.
    | Nov. 3, 2014, 11:38 AM
  • Mar. 31, 2014, 2:47 PM
    • P-E firms Parallax Capital and Stepstone Group are buying Rovi's (ROVI +1.6%) DivX/MainConcept video codec licensing and software business for $75M in cash and milestone payments. (PR)
    • Rovi, which has already sold its Entertainment Store and consumer website ops, previously announced plans to unload DivX/MainConcept. Figures provided at the time suggested the businesses produced 2013 revenue of $70M-$75M, and EPS of $0.25-$0.30.
    | Mar. 31, 2014, 2:47 PM
  • Jan. 12, 2012, 5:57 PM
    Rovi (ROVI) jumps 3.8% AH after disclosing ahead of its investor day meeting (webcast) it's establishing 2012 revenue guidance of $810M-$840M ($829.5M consensus) and EPS guidance of $2.50-$2.80 ($2.64 consensus). In addition, Rovi is announcing the sale of its Roxio PC media software business to Corel for an undisclosed sum. (earlier)
    | Jan. 12, 2012, 5:57 PM
Company Description
Rovi Corp. discovers and personalizes digital entertainment. It provides integrated solutions and advertising and analytics services that connect consumers with entertainment. The company's content discovery solutions include interactive program guides (IPGs), search & recommendations and cloud... More
Sector: Technology
Industry: Multimedia & Graphics Software
Country: United States