TiVo chief optimistic about future
TiVo chief Michael Ramsay talked about the future in a press conferance at the consumer Electronics show in January.
Investors are growing skeptical about the digital video recorder (DVR) pioneer. They see cable operators rolling out low-priced DVR services. TiVo's relationship with DirecTV ? which accounts for about 61% of TiVo's roughly 3 million subscriptions ? is in doubt now that the No. 1 satellite company is introducing receivers for its own DVR service.
Adding to shareholder anxiety, CEO Michael Ramsay said last month that he will relinquish that job, but remain chairman, once a replacement is found. This week, Marty Yudkovitz resigned as president.
The result: TiVo stock has fallen 40% in the past month, closing Thursday at $3.63.
But Ramsay remains implacably optimistic about a product that he says is still the best of the bunch ? and a business plan that will turn profitable this year. Ramsay spoke with Senior Media Reporter David Lieberman about his view of TiVo's prospects and public misconceptions. Read the interview at www.usatoday.com.
Adding to shareholder anxiety, CEO Michael Ramsay said last month that he will relinquish that job, but remain chairman, once a replacement is found. This week, Marty Yudkovitz resigned as president.
The result: TiVo stock has fallen 40% in the past month, closing Thursday at $3.63.
But Ramsay remains implacably optimistic about a product that he says is still the best of the bunch ? and a business plan that will turn profitable this year. Ramsay spoke with Senior Media Reporter David Lieberman about his view of TiVo's prospects and public misconceptions. Read the interview at www.usatoday.com.
