TiVo shares jump on court order for EchoStar DVR shutdown

08/18/06 - newratings.com

NEW YORK, August 18 (newratings.com) - Satellite television provider EchoStar Communications Corp was Thursday ordered by a US District Court Judge to halt the use and sale of several of its digital video recorders within 30 days for violation of the five-year-old patents of TiVo Inc (TIVO).

EchoStar Communications, parent of Dish Network, is required to pay $89.6 million in damages. Alviso, California-based TiVo’s patented "time-warp" feature allows a DVR to simultaneously record one programme while playing back another. According to Sanford Bernstein & Co analyst Craig Moffett’s estimates, Dish Network has three-to-four million DVR subscribers, Bloomberg said. TiVo’s share price jumped 8.47% to $7.04 by 3:09pm ET on the NASDAQ.