Rumors that direct-broadcast satellite service DirecTV Inc. will drop TiVo Inc.’s personal-video-recorder service if the DBS provider is acquired by News Corp. sunk the PVR vendor’s stock Thursday, Dow Jones reported.
There was no mention of TiVo in a letter News Corp. recently filed with the Federal Communications Commission regarding its plans for DirecTV.
Shares of TiVo fell $1.62 each in Thursday trading, or 16.6%, to $8.14 per share.
More than 8.6 million shares changed hands versus the stock’s average daily volume of 1.8 million.
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