Adeia Renews Long-term Intellectual Property License with Foxtel

Rhea-AI Summary

Adeia Inc. (Nasdaq: ADEA) has announced a multi-year intellectual property license renewal with Foxtel, Australia's leading pay-TV platform. This agreement allows Foxtel to continue utilizing Adeia’s extensive media technology patent portfolio across its pay-TV and online streaming services, including Foxtel Now, Kayo, and Binge. Adeia’s Chief Licensing Officer, Dr. Mark Kokes, highlighted the importance of this collaboration in driving innovative entertainment solutions for consumers.

Positive

• Multi-year IP license renewal with Foxtel enhances Adeia's revenue stability.
• Strengthens Adeia's position in the media technology market.
• Foxtel's ongoing access to Adeia’s patent portfolio supports future innovation.

Negative

• None.

New Agreement Enables Foxtel to Continue Delivering the Ultimate Entertainment Discovery Experience to Subscribers in Australia

SAN JOSE, Calif., Oct. 04, 2022 (GLOBE NEWSWIRE) -- Foxtel, Australia’s leading pay-TV platform, and Adeia Inc., the newly independent IP licensing business (Nasdaq: ADEA), today announced that Foxtel has signed a multi-year intellectual property (IP) license renewal. This agreement offers Foxtel’s pay-TV platform as well as Foxtel’s online streaming platforms, including Foxtel Now, Kayo, and Binge, ongoing access to Adeia’s industry-leading media technology patent portfolio.

“We believe that our relationship with Foxtel demonstrates how pay-TV and OTT providers around the world use Adeia’s intellectual property to reach consumers in more innovative ways,” said Dr. Mark Kokes, Chief Licensing Officer and General Manager of Adeia’s media business. “We are proud to continue working with Foxtel, one of Australia's most innovative media companies, to enable the next-generation of entertainment technology.”

Adeia has spent decades investing in research and development to create market-leading technologies for the media and entertainment industry. Adeia’s innovative solutions touch practically every aspect of consumers’ day-to-day interaction with their entertainment, enabling Adeia’s customers to build customized, next-generation digital entertainment solutions for users around the globe.

About Adeia Inc.
Adeia invents, develops and licenses fundamental innovations that shape the way millions of people explore and experience entertainment in an increasingly connected world. From TVs to smartphones, and across all types of entertainment experiences, Adeia’s technologies allow users to manage content and connections in a way that is smart, immersive and personal. For more information, please visit adeia.com.

Contact:
Jill Koval, Arbor Advisory Group
ir@adeia.com

SOURCE: Adeia Inc.
ADEA

FAQ

What does the new agreement between Adeia and Foxtel entail?

The agreement is a multi-year IP license renewal allowing Foxtel to access Adeia’s media technology patent portfolio.

How does the Adeia and Foxtel agreement impact ADEA stock?

The agreement could provide revenue stability and enhance market confidence in ADEA stock.

When was the Adeia and Foxtel agreement announced?

The agreement was announced on October 4, 2022.

What platforms will benefit from the Adeia and Foxtel agreement?

Foxtel Now, Kayo, and Binge will benefit from the renewed license.