DVR-maker TiVo is reportedly in advanced negotiations to be sold to entertainment technology company, Rovi.
According to a New York Times report, the deal would merge TiVo and Rovi, with shareholders of TiVo to receive a combination of cash and stock.
The report claimed that while the price is still under negotiation, shareholders of TiVo would likely own roughly 30% of the combined company.
Separately, Forbes reported that since former TiVo CEO Tom Rogers announced his planned departure last November, rumours began that “the company was in play”.
However it claimed that news of Rovi’s interest in the firm may be “the first inning of an interesting sale process” with the potential of new bidders coming forward.
The news comes in the same month that TiVo as said that it needs to “chart a new path” and will launch new consumer products to adapt to changing viewer behaviour.
“We will focus on growth in our operator-related businesses; launch a new class of consumer products; and put in place organisational and operational changes that will drive revenues and better manage costs,” said TiVo’s interim CEO Naveen Chopra, announcing the firm’s fourth quarter revenues.
Rovi provides services spanning TV guides, personalisation, metadata and analytics services, and also owns a number of digital entertainment patents.
