Rovi Announces Expanded Data and Patent License Agreement with Comcast
Company Exits GuideWorks Joint Venture
Santa Clara, Calif. - 3/1/2010 - Rovi Corporation (NASDAQ: ROVI) today announced that it has expanded its relationship with Comcast to include Rovi’s enhanced entertainment products as well as an expanded license under Rovi’s patents across mobile, online, and other Comcast distribution platforms. In addition, Rovi has exited its GuideWorks joint venture with Comcast and Comcast has become sole owner of GuideWorks. GuideWorks was formed in 2004 as a collaborative effort by the two companies to further develop an interactive program guide solution, now distributed by Rovi under its i-Guide brand.
“We are excited to expand our relationship with Comcast and delighted to be providing them our entertainment metadata across Comcast’s properties. We look forward to working with Comcast in improving the overall consumer experience,” said Fred Amoroso, President and CEO, Rovi. “Additionally, as we assessed our options, we realized that much has changed in the market since the formation of GuideWorks and as a result, we believe that now is an appropriate time to exit the venture, and realign our portfolio and investments towards solutions we have direct control over and can use across a broad set of platforms and markets.”
Rovi will continue to distribute its i-Guide product and its current customers will continue to receive i-Guide product updates and new downloads. Rovi’s next major i-Guide release is expected to be delivered to customers in 2011.
About Rovi Corporation
Rovi powers the discovery, delivery, display and monetization of digital entertainment. With innovative technology solutions for consumer electronics manufacturers, service providers, content producers, advertisers, retailers and websites, Rovi connects people and the entertainment they love. The company holds over 5,000 issued or pending patents worldwide and is headquartered in Santa Clara, California. More information about Rovi can be found at rovicorp.com.
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Forward Looking Statements
All statements contained herein that are not statements of historical fact, including statements that use the words "will" or "is expected to," or similar words that describe the Company's or its management's future plans, objectives, or goals, are "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in the Company's most recent report on Form 10-Q for the period ended March 31, 2013 and such other documents as are filed with the Securities and Exchange Commission from time to time (available at http://www.sec.gov/). The Company assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
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