AOL Fast Forwards Cash Into TiVo

America Online, Dulles, VA, announced yesterday that it has increased its stake in personal video recorder company TiVo to 30 percent.

The deal has the ISP giant purchasing 15,658,292 shares of TiVo common stock.

AOL already had a 480,307-share stake in the company. It announced the increase as part of a three-year, $200 million agreement to develop a dual AOLTV/TiVo set-top box to be marketed directly to consumers.

AOL now owns 16,138,599 shares in TiVo, whose stock is hovering around $18 on the Nasdaq.
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