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4-Traders Homepage  >  Equities  >  Nasdaq  >  Rovi Corporation    ROVI

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Rovi Corporation : Leading Entertainment Group in Greater China Expands Licensing Agreement with Rovi for DivX Plus Streaming

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03/21/2013 | 12:26pm CET
Advanced Adaptive Streaming Format Selected to Power Online Movie Store in Mainland China

Santa Clara, Calif. - 3/21/2013 - Rovi Corporation (NASDAQ: ROVI), driving digital entertainment innovation, today announced Mei Ah Digital Ltd. (Mei-Ah, a member of Mei Ah Entertainment Group) has selected DivX Plus Streaming™ to deliver video-on-demand services to consumers in China. The online service, (http://www.116.tv/), will comprise of movie titles available for digital distribution by the Mei Ah Entertainment Group and other movie studios, including new releases, library content, and television programs.

DivX Plus Streaming is designed to enhance the digital entertainment experience. The advanced adaptive streaming format brings a cutting-edge feature set to streaming media that is typically characteristic of the Blu-ray Disc consumer experience. The solution supports 1080p high definition, subtitles, multiple language tracks, and trick-play features such as smooth fast forward and rewind, quick-start playback, and resume playback across devices. Designed for a new generation of entertainment experiences, Rovi is currently integrating support for High Efficiency Video Coding (HEVC/H.265) into DivX Plus Streaming. The latest compression standard is expected to help reduce storage and bandwidth costs and deliver an optimized viewing experience.

"We are pleased to expand our relationship as we work to satisfy the growing demand for digital access to premium entertainment in China," said Steve Law, Executive Director, Mei Ah Digital Technology Ltd. "DivX video technologies enable the secure and high quality delivery of our entertainment libraries, and help enrich the viewing experience with advanced features such as multi-language subtitles that are important to our customers. Moreover, with the availability of millions of DivX Certified devices to choose from, consumers will have many options to enjoy their favorite entertainment at home or on the go."

Today's announcement is the latest in a series of agreements between the companies. DivX® technologies have been used since 2011 to power download-to-rent and download-to-own offerings from Mei-Ah. More recently, DivX Plus Streaming was chosen to power a collaborative effort between Mei Ah Entertainment Group and China Mobile Hong Kong Company Limited to bring the availability of premium entertainment services to 4G LTE and 3G China Mobile Hong Kong subscribers.

In addition to adopting Rovi technologies for the delivery and display of entertainment, Mei-Ah also adopted Rovi TotalCode™ to streamline content preparation. TotalCode offers professional-quality batch encoding of video content in a broad range of digital distribution and broadcast formats, and is being used by Mei-Ah to generate titles for both download and streaming.

"From content creation through high quality consumption on a range of devices, our relationship with Mei-Ah showcases the end-to-end support Rovi technologies provide entertainment service providers," said Simon Adams, SVP, Sales and Marketing, Consumer Electronics, Rovi Corporation. "The market in China is certainly heating up and we are delighted by the interest we are receiving from China-based OEMs, ODMs, and service providers for DivX technologies to help support their entertainment delivery initiatives."

DivX Plus Streaming has been approved by studios and adopted by companies helping fuel over-the-top entertainment distribution. The advanced adaptive streaming format has gained the support of IC vendors including Broadcom, MediaTek, MStar, and Qualcomm and has been selected to power video delivery for a range of online entertainment services. The DivX DRM (digital rights management) solution, as used with DivX Plus Streaming, was also recently approved by the DECE (Digital Entertainment Content Ecosystem consortium). With DivX DRM becoming part of the UltraViolet technology specification, DivX Plus Streaming may be easily used by UltraViolet retailers to deliver a consistently high quality over-the-top video streaming experience.

About Mei Ah Entertainment Group
Mei Ah Entertainment Group was founded in 1984 and listed at Hong Kong Stock Exchange in 1993. Majoring in video distribution, the Group has been actively engaged in film investment and production since 1997, it has produced more than 150 titles to date and has a film library of approximately 600 titles, including many box office hits and internationally acclaimed titles. The Group has also been involved in TV series production and distribution, television channel operational, multi-media development and recently the cinema lines throughout China.

About Rovi Corporation
Rovi powers the discovery, delivery, display and monetization of digital entertainment. With innovative technology solutions for consumer electronics manufacturers, service providers, content producers, advertisers, retailers and websites, Rovi connects people and the entertainment they love. The company holds over 5,000 issued or pending patents worldwide and is headquartered in Santa Clara, California. More information about Rovi can be found at rovicorp.com.


# # #

Forward Looking Statements
All statements contained herein that are not statements of historical fact, including statements that use the words "will" or "is expected to," or similar words that describe the Company's or its management's future plans, objectives, or goals, are "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in the Company's most recent report on Form 10-K for the period ended December 31, 2012 and such other documents as are filed with the Securities and Exchange Commission from time to time (available at http://www.sec.gov/).  The Company assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

For more information, contact:

Chris Taylor
Rovi Corporation
+1 (408) 562-3077
Chris.D.Taylor@rovicorp.com

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Sales 2016 625 M
EBIT 2016 267 M
Net income 2016 30,1 M
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Yield 2016 -
P/E ratio 2016 99,59
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EV / Sales 2016 4,61x
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Average target price 31,7 $
Spread / Average Target 61%
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Thomas Carson President, Chief Executive Officer & Director
James E. Meyer Chairman
Pete Thompson Chief Operating Officer & Executive Vice President
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Jeffrey T. Hinson Director
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