NEW YORK – Satellite broadcaster Dish Network Corp. and set-top box supplier EchoStar Corp. will pay TiVo Inc. $500 million to settle a patent lawsuit over digital video recorder technology, the companies said Monday.
The settlement is one of the largest ever over patents. Sales of TiVo-branded DVRs have plummeted as cable and satellite companies have added DVR functions to their set-top boxes, allowing them to record television programs and then play them back, as well as pause, fast-forward and rewind.
Some companies, like Dish competitor DirecTV Group Inc., have struck deals with TiVo. Others have held out, with Dish being the most high-profile one.