Companies enter mutually exclusive arrangement to develop UK's most advanced television and broadband offering
ALVISO, Calif., and LONDON, Nov. 24 /PRNewswire-FirstCall/ -- TiVo Inc. (Nasdaq: TIVO), a leader in the creation of television services and advertising solutions for digital video recorders (DVRs), and Virgin Media Inc. (Nasdaq: VMED; LSE: VMED), the UK's leading entertainment and communications company, today announced they have entered into a strategic partnership under which TiVo will develop Virgin Media's next generation TV platform. Under the mutually exclusive agreement, TiVo will develop a converged television and broadband interactive interface to power Virgin Media's next generation, high definition set top boxes. The terms of the deal are not disclosed.
TiVo will become the exclusive provider of middleware and user interface software for Virgin Media's next generation set top boxes. Virgin Media will become the exclusive distributor of TiVo services and technology in the United Kingdom.
Neil Berkett, CEO of Virgin Media said, "TiVo's proven track record of innovation, strength of its patented technology and experience in developing best in class user environments, make it an ideal strategic partner for Virgin Media as we move aggressively to bring our next generation TV service to market. The superiority of our fibre optic network combined with TiVo's capabilities, will allow us to offer consumers the most significantly advanced and compelling TV service available in the UK, and we believe will do to the TV market what Virgin Media has done to the high speed broadband market."
The next generation platform will offer a superior television viewing experience which will allow Virgin Media customers to search and discover content through major advances in video-on-demand integration and broadband video delivery creating the ultimate one-stop-shop for in-home entertainment.
"This deal underscores TiVo's commitment to expanding its global footprint through strategic alliances with leading international media companies to help them deliver the best in-home entertainment experience for consumers," said Tom Rogers, president and CEO of TiVo Inc. "We are very excited about this new distribution relationship with the UK's most advanced pay television provider and are particularly proud to have been selected as Virgin Media's core software partner for its next generation DVR-enabled set top boxes and its next generation non-DVR set top boxes. Virgin Media is a true leader in the world of entertainment and their enthusiasm for building the next generation of pay television is an excellent opportunity to put all of TiVo's innovation to work in a product distributed by a world class partner. We believe this international deal affords us a significant subscriber growth opportunity."
Virgin Media currently anticipates its first TiVo co-branded product in 2010.
About TiVo Inc.
Founded in 1997, TiVo Inc. (Nasdaq: TIVO) developed the first commercially available digital video recorder (DVR). TiVo offers the TiVo service and TiVo DVRs directly to consumers online at www.tivo.com and through third-party retailers. TiVo also distributes its technology and services through solutions tailored for cable, satellite, and broadcasting companies. Since its founding, TiVo has evolved into the ultimate single solution media center by combining its patented DVR technologies and universal cable box capabilities with the ability to aggregate, search, and deliver millions of pieces of broadband, cable, and broadcast content directly to the television. An economical, one-stop-shop for in-home entertainment, TiVo's intuitive functionality and ease of use puts viewers in control by enabling them to effortlessly navigate the best digital entertainment content available through one box, with one remote, and one user interface, delivering the most dynamic user experience on the market today. TiVo also continues to weave itself into the fabric of the media industry by providing interactive advertising solutions and audience research and measurement ratings services to the television industry. www.tivo.com
TiVo, 'TiVo, TV your way.', Season Pass, WishList, TiVoToGo, Stop||Watch, Power||Watch, and the TiVo Logo are trademarks or registered trademarks of TiVo Inc. or its subsidiaries worldwide. © 2009 TiVo Inc. All rights reserved. All other trademarks are the property of their respective owners.
About Virgin Media
With almost 10 million customers, Virgin Media is the UK's first quad-play provider of broadband, TV, phone and mobile.
The company is one of the largest residential broadband providers in the UK, using a unique fibre optic cable network to deliver next generation ultrafast internet access of up to 50Mb to just over half of all homes. Combined with a high speed ADSL service and mobile broadband products, Virgin Media is able to offer broadband internet access to virtually the entire country.
Virgin Media has the UK's most advanced TV on demand service and is the only TV platform to carry BBC iPlayer. It is the second largest provider of pay TV, was the first to launch a high definition TV service and offers a high-specification, HD-ready V+ personal video recorder.
The company operates the most popular virtual mobile network in the UK which, when launched, was the world's first such mobile phone service. It is also one of the largest fixed-line home phone providers in the country.
Virgin Media also owns Virgin Media Television (VMtv) which runs seven entertainment channels, including Virgin1, LIVING, Bravo and Challenge. VMtv is a 50 per cent joint partner with BBC Worldwide in UKTV, which consists of ten channels including Dave, G.O.L.D., Watch and Alibi.
With operations based entirely in the UK, Virgin Media Inc. is listed on the NASDAQ Stock Market (VMED) and the London Stock Exchange (VMED).
For more information, go to www.virginmedia.com
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the future availability and timing and the expected features and functionality of the TiVo software, technology, and service to be deployed by Virgin Media to its customers and expected future TiVo subscriber growth from Virgin Media. Forward-looking statements generally can be identified by the use of forward- looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the other potential factors described under "Risk Factors" in each company's public reports filed with the Securities and Exchange Commission. Each company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Each company disclaims any obligation to update these forward-looking statements.
SOURCE TiVo Inc.
Krista Wierzbicki, +1-408-519-9438, email@example.com, for TiVo Inc.; or Emma Hutchinson, +44 207 299 5702, firstname.lastname@example.org, for Virgin Media