Hey Stew,
I've read the 8-K and the Gemstar press release, and tried to find more information in the GMST SEC filings, but have not found anything that states that TiVo and GMST cross-licensed their IP, instead it indicates that TiVo has licensed GMST IP and in exchange GMST gets the:
In consideration for the license granted under the agreement, we agreed to pay Gemstar an upfront license fee for existing units that have entered the stream of commerce prior to the effective date of the agreement and a per unit fee for future TiVo-enabled devices. We have also agreed to provide Gemstar with TiVo Showcases and certain branding in the TiVo interface of our Series2 devices. In exchange for our promise to provide these and other services, Gemstar has waived the upfront license fee and will pay us a certain per unit fee. We may use the per unit fees Gemstar will pay to us to offset a portion of the per unit fees we will pay to Gemstar.
What source did you use that stated that GMST got cross-licensing and possibly other consideration?
I'll keep looking, but this is all I've been able to find from the settlement resolution. From one broker report I read they estimate GMST will get $2 per box (that is probably net after TiVo offsets the GMST per box fee paid back to TiVo, or at least my suspicion thereof). The Showcase space, however, is something I did not immediately pick up on, neither did the broker, and that could be quite valuable.
Tinker |
