News

Sony Helps TiVo Mark 'Milestone'

10/28/2001 7:00 PM Eastern

Morgan Keegan & Co. analyst Murray Arenson maintained his "market perform" rating on TiVo Inc. after the company entered into a seven-year agreement to license technology from Sony Corp. The agreement will allow Sony — a major investor in TiVo — to integrate TiVo's technology, service and brand into Sony consumer-electronics products. Arenson expected the deal to generate revenue of $10 million to $15 million for TiVo, which offers a subscription personal video recorder service, in the next 12 months. "We believe the Sony deal marks a significant milestone for TiVo and bodes well for future deals," Arenson wrote in his report. TiVo stock closed at $5.57, down 19 cents, on Oct. 24.

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