"We are pleased that the board has approved the separation of TiVo's product and IP licensing business and believes that both businesses will be better positioned independently. We believe that the separation will unlock the shareholder value and increase the flexibility of pursuing new and growing market opportunities , Interim Minister TiVo, Raghu Rau, said in a press release.
As video-on-demand and streaming providers have made it too easy to see a show or movie on their own, TiVo has struggled to find the future. The company was acquired by the patent giant Rovi in 201
While some speculated That the split of TiVo's IP and product business in two will make it easier to find a buyer, early signs are not encouraging. TiVo shares fell by 14 percent on Friday after the announcement.