Digital TV company Rovi is buying TiVo in $1.1 billion deal

See the original posting on LA Times Technology

Digital TV listing company Rovi is buying TiVo in a cash-and-stock deal valued at about $1.1 billion.

Rovi Corp. said Friday it will pay $10.70 in cash and stock for each TiVo Inc. share. Rovi will pay $2.75 per share in cash, or about $277 million. The rest, $7.95 per share, will be paid in stock.