Dish Network Corp and partner EchoStar Corp agreed to settle its ongoing litigation with TiVo for $500 million, which includes an immediate payment of $300 million, pursuant to a settlement agreement that dismisses the ongoing litigation between the parties. The settlement agreement provides DISH with the rights to use certain TiVo patents for video recording on its satellite television system. The settlement has dramatically increased the value of DISH stock, which has propelled to its highest value since 2008. Dish Chief Executive Officer Charlie Ergen provided in a publically released statement that “we are pleased to put this litigation behind us and move forward…our agreement with TiVo provides us a competitive advantage as one of the few multichannel operators with rights to operate under TiVo’s Time Warp patent, which ultimately will allow us to enhance the performance” of the company’s digital video recorders. The attorneys of Bashian & Papantoniou are New York trial lawyers that can assist you in the settlement of business disputes. Please contact one of our New York trial lawyers for an immediate consultation. Read More
