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Verizon Communications (NYSE:VZ) has resolved its pending patent litigation with TiVo Inc. (NASDAQ:TIVO), and the parties have entered into a mutual patent licensing arrangement. Through the terms, Verizon will pay TiVo total compensation worth at least $250.4 million, which will be comprised of a $100 million initial cash payment followed by recurring quarterly payments totaling an additional $150.4 million through July 2018. In addition to the guaranteed compensation, the former will also pay monthly license fees to TiVo through July 2018 for each Verizon DVR subscriber which is in excess of certain pre-determined levels. As part of the resolution, TiVo and Verizon have agreed to dismiss all pending litigation between them with prejudice. Additionally, the companies have entered into a cross license of their respective patent portfolios in the advanced television field.
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