TiVo shares are trading modestly higher Thursday morning after the company announced that it has signed a distribution deal with Mediacom, the 8th largest U.S. cable company.
TiVo said that Mediacom will start rolling out a whole-home DVR service in early 2013. The company notes that the system includes a 4-tuner gateway DVR, “Mini IP” set-top box clients and companion apps for Apple iOS and Android devices.
Specific terms of the deal were not disclosed.
B. Riley analyst Eric Wold writes this morning that the deal should “provide additional positive tailwinds” to FY 2014 results. He adds that while the company certainly has been successful with its litigation strategy winning just over $1 billion in suits against Dish Network, AT&T and Verison the ability to signs new deals with cable operators suggest TiVo is more than just a litigation story. Wold maintains a Buy rating and $17 target on the stock.
Read also:
Mediacom Powers Up TiVo Play (Multichannel News)
Mediacom to deploy TiVo whole-home DVR in 2013 (FierceCable)
Mediacom Selects TiVo for Next-Generation, Whole-Home Television Experience (Benzinga)
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