Aereo was a gallant effort that aimed to change the world of broadcast television as we know it. Still, it failed. But after bankruptcy there is often life after death. Aereo will have a future, sort of — inside of TiVo Inc. (NASDAQ: TIVO).
TiVo issued a press release on Friday morning confirming that it will acquire certain assets of Aereo.
Before you think this is a rekindling of Aereo, it is not. TiVo called the asset purchase a strategic acquisition. The assets include trademarks and customer lists. This represents the finalization of the sale that was set in late February of Aereo’s patents, hardware and other assets.
Tom Rogers, president and CEO of TiVo, said:
TiVo has always innovated to meet the constantly changing ways TV audiences choose to access content. This strategic acquisition of Aereo’s trademarks and customer lists will enhance our ability to serve the growing segment of consumers who want access to both broadcast television and over the top content. TiVo has found success in providing a more comprehensive offering and sophisticated user experience than any other player in the marketplace and we look forward to expanding on that success.
Announced after the deal was reported was that TiVo would be using the Aereo customer lists to promote a new DVR.
TiVo’s market cap is right at $1 billion. Trading at $10.78, it has a 52-week range of $10.27 to $14.29, and the consensus analyst price target is listed at $15.65.
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