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TiVo, DirecTV Renew Deal for Three More Years

TiVo (TIVO) and satellite provider DirecTV (DTV) said Wednesday that they will continue their relationship for another three years.

TiVo, whose digital video recorder boxes compete with those offered by rival carriers, such as Comcast's cable business, will continue to offer the DirecTV TiVo service to existing DirectTV TiVo subscribers.

The two companies also agreed not to file a patent suit against the other for the duration of the agreement.

"We are pleased to have reached an agreement with DIRECTV that will allow us to continue to provide our service to the more than 2 million DIRECTV TiVo households," said TiVo chief executive Tom Rogers, in a statement.

"As the pioneer in the DVR market, we have created a service that is highly valued by consumers because of our technology, the wide range of our unique features and the unparalleled ease of our user experience. This agreement reflects TiVo's popularity among DIRECTV subscribers and importantly respects the value of our intellectual property as well."

Terms of the deal were not disclosed, although the companies said that the "recurring monthly economics" would be about the same as the existing deal.

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