AT&T to Pay $215 Million to Tivo

AT&T Inc (NYSE:T) recently announced that the company will be paying TiVo Inc (NASDAQ:TIVO) $215 million as settlement against a patent law suit. The two companies after a long dispute have finally reached at an agreement and have also decided to end all previous pending law suits.

As per the latest agreement AT&T will make the first payment of $51 million to Tivo while the rest of the payments totally to $164 million will be paid till June 2018.

AT&T shares in its last session slightly gained 0.16 percent or $0.05 to close at $30.43. The traded volume stood at 31.21 million shares as compared to its average traded volume figure of 24.67 million shares per day. Currently the stock is trading at a price to earnings of 15.45 times.

Tivo in its last session jumped 10.09 percent or $0.9 to $9.82. The surged was sure backed by strong volume figure of 8.60 million shares for the day while on average Tivo maintains the volume of 2.19 million shares per day. The stock price is trading at price to earnings of 27.07 times which seems to be high as compared to its competitors as Dish Network with P/E of 9.06 while Time Warner maintains the P/E of 15.04 times.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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