Tusk
06-04-04, 01:11 PM
http://biz.yahoo.com/rc/040604/tech_tivo_directv_1.html
NEW YORK, June 4 (Reuters) - Television recording technology company TiVo Inc. (NasdaqNM:TIVO (http://finance.yahoo.com/q?s=tivo) - News (http://finance.yahoo.com/q/h?s=tivo)) on Friday said that the vice chairman of DirecTV Group Inc. (NYSE:DTV (http://finance.yahoo.com/q?s=dtv) - News (http://finance.yahoo.com/q/h?s=dtv)), whose satellite TV service is key to TiVo's subscriber growth, has quit TiVo's board.
Eddy Hartenstein's brief 7-month tenure as a TiVo director ends as he aims to "dedicate more time to his responsibilities with The DIRECTV Group in this period of dynamic growth for the company," TiVo said.
Last October, TiVo shares rose some 10 percent after it announced Hartenstein's election to the board. For a while, it quelled concerns about DirecTV's partnership with TiVo, which supplies its customers with digital video recorders (DVR).
TiVo shares were unchanged on Friday at $7.42 on Nasdaq. The stock had been under pressure in recent months amid concerns that it has bet too much of its future on DirecTV, its biggest supplier of new subscribers.
DirecTV and TiVo enjoy a strong relationship today, but DirecTV's new corporate parent, Rupert Murdoch's (News (http://us.rd.yahoo.com/finance/news/keywords/news/SIG=12aql090h/*http://search.news.yahoo.com/search/news?p=%22Rupert+Murdoch%22&a=1&n=10)) News Corp. Ltd. (Australia:NCP.AX (http://finance.yahoo.com/q?s=ncp.ax) - News (http://finance.yahoo.com/q/h?s=ncp.ax)), may bring in a rival DVR provider, analysts say.
In a statement, Hartenstein said he looks forward to "continuing the strong business relationship between DirecTV and TiVo, one that continues to benefit both companies...."
NEW YORK, June 4 (Reuters) - Television recording technology company TiVo Inc. (NasdaqNM:TIVO (http://finance.yahoo.com/q?s=tivo) - News (http://finance.yahoo.com/q/h?s=tivo)) on Friday said that the vice chairman of DirecTV Group Inc. (NYSE:DTV (http://finance.yahoo.com/q?s=dtv) - News (http://finance.yahoo.com/q/h?s=dtv)), whose satellite TV service is key to TiVo's subscriber growth, has quit TiVo's board.
Eddy Hartenstein's brief 7-month tenure as a TiVo director ends as he aims to "dedicate more time to his responsibilities with The DIRECTV Group in this period of dynamic growth for the company," TiVo said.
Last October, TiVo shares rose some 10 percent after it announced Hartenstein's election to the board. For a while, it quelled concerns about DirecTV's partnership with TiVo, which supplies its customers with digital video recorders (DVR).
TiVo shares were unchanged on Friday at $7.42 on Nasdaq. The stock had been under pressure in recent months amid concerns that it has bet too much of its future on DirecTV, its biggest supplier of new subscribers.
DirecTV and TiVo enjoy a strong relationship today, but DirecTV's new corporate parent, Rupert Murdoch's (News (http://us.rd.yahoo.com/finance/news/keywords/news/SIG=12aql090h/*http://search.news.yahoo.com/search/news?p=%22Rupert+Murdoch%22&a=1&n=10)) News Corp. Ltd. (Australia:NCP.AX (http://finance.yahoo.com/q?s=ncp.ax) - News (http://finance.yahoo.com/q/h?s=ncp.ax)), may bring in a rival DVR provider, analysts say.
In a statement, Hartenstein said he looks forward to "continuing the strong business relationship between DirecTV and TiVo, one that continues to benefit both companies...."