Summary Box: AT&T to pay $215M to TiVo for patents

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PHONE BILL: AT&T Inc. will pay TiVo Inc. at least $215 million through June 2018 to settle a patent lawsuit TiVo brought regarding patents it holds over its pioneering digital video recorders.

VERIZON ON HORIZON: TiVo has a similar lawsuit pending against Verizon for its FiOS video service, which has about 4 million subscribers, slightly more than AT&T’s U-verse. FiOS customers also use DVRs.

SHARE JUMP: TiVo shares jumped $1.26, or 14 percent, to $10.18 in after-hours trading on the news. AT&T shares inched up 16 cents to $30.54 in extended trading.