TiVo's Former CEO Gets $12 Million for Latest Fiscal Year
The iconic DVR company is being acquired by Rovi.
TiVo's former CEO Tom Rogers was awarded $12 million in the latest fiscal year, up from $10 million the year before that.
Rogers stepped down at the end of 2015 and was replaced on an interim basis by CFO Naveen Chopra, who made $3.3 million in the latest fiscal year, up from $3 million.
The figures were disclosed Friday in a regulatory filing.
TiVo, which is responsible for making the DVR such a widely owned household appliance, agreed last month to be acquired by Rovi for $1.1 billion, and the combined company will take the iconic TiVo name. Rovi has a whopping 5,000 digital and television-related patents but is best known for its onscreen TV guides.
The acquisition is expected to close in the third quarter and some of Rovi's 1,700 and TiVo's 600 employees will lose their jobs as a result of the merger.