Venerable and I were just talking about this yesterday. Soon, I will have the movies delivered to my Tivo instead of through the mail. As soon as I watch one an delete it, here comes the next movie...
TIVO, NETFLIX CLOSE TO INTERNET MOVIE DEAL
Tue Sep 7,12:05 PM ET Add Technology - Internet Report to My Yahoo!
WASHINGTON (Reuters) - Online DVD renter Netflix Inc. (Nasdaq:NFLX - news) and television recorder maker TiVo (news - web sites) Inc. (Nasdaq:TIVO - news) are close to a deal to allow Netflix subscribers to download movies over the Internet to their TiVo devices, according to the latest issue of Newsweek magazine.
Newsweek, citing an anonymous source close to the talks, said the deal could be approved by TiVo's board of directors this week. Shares of Tivo and Netflix, both of which recently hit 52-week lows on concerns about their growth prospects, each surged 16 percent.
A Netflix spokeswoman said there was no relationship at this point between the two companies, but declined to comment on the accuracy of the Newsweek report. Tivo could not be immediately reached for comment.
Such a service would require subscriptions to both Netflix and TiVo, as well as a broadband Internet connection. TiVo's current service allows the recording of broadcast TV programs, while Netflix delivers DVDs through the mail.
TiVo has said it was working on delivering unique content, such as independent films, over the Internet to subscriber set-top boxes. In January, TiVo acquired Strangeberry, a California firm that designs broadband television software.
Shares of TiVo were up 70 cents to $5.12 in midday trade, while Netflix rose $2.32 to $16.67, both on Nasdaq.