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"We are delighted that our Board of Directors has approved the separation of TiVo's IP licensing and product licensing business and we are confident that the two companies will be better positioned independently. value for shareholders and will increase our flexibility in the search for new and growing market opportunities "TiVo interim director, Raghu Rau, in a press release.
While video-on-demand and streaming providers have made it easy to watch a show or movie at your own pace, TiVo is struggling to find a future. The company was acquired by the patent giant Rovi in 2016 for $ 1.1 billion – mainly for the many patents it holds regarding the viewing of online television. In January, TiVo announced that it was working on an application allowing its users to watch Roku, Apple TV and Fire TV. The company has been dealing with a series of outgoing CEOs; his most recent permanent leader, Enrique Rodriquez, resigned after less than a year.
Some think that splitting TiVo's intellectual property and products in two will make finding a buyer easier, but the first signs are not encouraging. TiVo shares fell 14% on Friday following the announcement.
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