EchoStar Pays $18.9M to Settle NDS Suit
Today's cable news roundup kicks off with financial news involving Cisco Systems Inc. (Nasdaq: CSCO)'s latest acquisition target.
EchoStar Corp. LLC (Nasdaq: SATS) has paid $18.9 million to U.K.-based NDS Ltd. to end a a legal spat from 2003, when EchoStar filed a $2 billion claim that accused NDS of hacking Dish Network LLC (Nasdaq: DISH)'s Nagravision SA -based video security system. Cisco agreed to acquire NDS for $5 billion last week. (See NDS Claims Win in EchoStar/Dish Hacking Case and Cisco Bets $5B More on Video With NDS.)
Aereo Inc. is "unlikely" to survive a copyright lawsuit it's facing from broadcasters over a TV/network DVR combo service that launched in New York City last week, according to Moody's Investors Service . Aereo's $12 per month service relies on thumb-sized antennas housed at a central facility to deliver over-the-air TV channels to customers via broadband. (See Aereo Strikes Back and Can Aereo Survive a Broadcaster Assault? )
Comcast Corp. (Nasdaq: CMCSA, CMCSK) EVP David Cohen and Verizon Communications Inc. (NYSE: VZ) EVP and General Counsel Randal Milch are among the witnesses that will face a Senate Judiciary Committee hearing Wednesday (March 21) at 2 p.m. ET related to Verizon Wireless 's proposed acquisition of Advanced Wireless Services (AWS) spectrum from Comcast, Time Warner Cable Inc. (NYSE: TWC), Bright House Networks and Cox Communications Inc. for almost $4 billion. (See Comcast: We Had AWS Plans, Honest! and Cable-VZ Wireless Deals to Face Senate Grilling .)
The National Cable & Telecommunications Association (NCTA) told the U.S. Department of Energy that the cable industry "fully supports improving energy efficiency of set-top boxes" through its own voluntary efforts, as opposed to a standards-based approach. CableLabs , for example, launched an initiative late last year dedicated to improving set-top energy consumption. (See Comcast's Strategy Chief Calls a Power Play .)
TiVo Inc. (Nasdaq: TIVO) Founder, CTO and SVP James Barton resigned on Friday, but will stay on as a consultant and will receive monthly payments of $25,000.
— Jeff Baumgartner, Site Editor, Light Reading Cable