Satellite

DirecTV Sells TiVo Stake

6/08/2004 9:44 AM Eastern

DirecTV Inc. said Tuesday that it has sold its equity stake in TiVo Inc., Reuters reported.

The sale follows Friday’s news that DirecTV Group Inc. vice chairman Eddy Hartenstein had resigned from the digital-video-recorder maker’s board of directors.

DirecTV spokesman Robert Mercer told Reuters the sale was in line with its policy of selling assets not central to its strategy.

"Our relationship with TiVo is strong, and they are an important part of our product lineup,” he said.

September