TVNZ buys stake in regional TiVO licence

TVNZ has bought a 33 per cent stake in the exclusive Australasian TiVo licensee, Hybrid Television Services, ahead of the device's launch in New Zealand later this year.

Seven Media Group sold the stake to TVNZ, and holds the remaining 67 per cent of the company, which launched TiVo in Australia in July 2008.

TiVo allows viewers to record programmes, pause and rewind live TV and watch movies on demand on all free-to-air digital TV channels, and access broadband content, services and games.

TVNZ chief executive Rick Ellis and chief financial officer Rodney Parker have joined a new board at Hybrid Television Services, which is chaired by Seven chief sales and digital officer James Warburton.

TiVo was introduced in 1997 in the United States by TiVo Inc.

No price was disclosed for the stake.

- NZPA