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TiVo Surges on Report Company Is in Sale Talks With Rovi

  • TiVo shareholders would receive cash, stock, NYTimes reports
  • Company spokespeople declined to comment on possible deal
Updated on

Shares of TiVo Inc., a pioneer of digital-video recorders, surged the most since April 2011 on a report the company is in advanced negotiations to be sold to Rovi Corp.

Shareholders of TiVo would receive a combination of cash and stock, though the exact price was still being negotiated, the New York Times reported, citing people briefed on the talks. After the deal, shareholders of TiVo, which had a market value of $750 million as of Wednesday, would probably own about 30 percent of the combined company, according to the report.