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Rovi’s proposed $1.1 billion acquisition of DVR pioneer and set-top box maker TiVo moved one crucial step closer to completion today with the news that both the Federal Trade Commission (FTC) and the Department of Justice (DOJ) antitrust divisions have approved the deal, meaning that the full waiting period often required under the 1976 Hart-Scott-Rodino Antitrust Improvements Act has been terminated early.
Rovi, a company that provides the onscreen TV guide listings and metadata that powers the media-search function on many platforms, first announced its plans to acquire TiVo back in April. Though the deal has Rovi acquiring TiVo, the combined company will actually be called TiVo and will create what Rovi called a “$3 billion entertainment technology leader.”
The companies’ boards had already approved the deal, but there may have been concerns that it would be vetoed by regulators, what with the Comcast / Time-Warner merger having been dropped over similar issues the previous year. In the case of Rovi and TiVo, however, it seems there was no cause for trepidation.
The companies face one more notable hurdle in the form of shareholder approval, though there has been nothing to suggest that the deal won’t be voted through.
The acquisition is still on course to be finalized in Q3 2016.
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