TiVo Names Tom Rogers as President and CEO

ALVISO, Calif., June 27 /PRNewswire-FirstCall/ -- TiVo announced today the appointment of veteran media executive Tom Rogers as President and CEO, effective July 1, 2005. Rogers succeeds Mike Ramsay, co-founder of TiVo, who announced his intention to step down as CEO in January after seven years in the position. Rogers served as Vice Chairman of TiVo's Board, on which he has served since September, 2003.

"This is a very exciting opportunity for me. Having been at the nexus of where media, technology, advertising and public policy collide for more than two decades, I am firmly convinced that TiVo can extend its strong brand identity and technology platform to the mass market through broader distribution by various carriers, and through growing its value as an advertising medium. After pioneering the digital video (DVR) category, TiVo is now uniquely positioned to help multi-channel carriers, networks and advertisers grow their businesses in an environment that presents new realities for how TV is watched," said Tom Rogers.

"I'm excited to be able to work with the incredible team in place at TiVo to take advantage of the opportunities the company has, as well as tackle the challenges it faces. I could not be more honored by the Board's request that I take on this role," Rogers said.

"While we closely considered an array of highly qualified and prominent candidates for the position, as we entered our final deliberations in selecting a new CEO, we as a Board came to Tom and asked him to take on the role. We could not be more thrilled that we got our top choice to take on this leadership position," said Randy Komisar, partner at Kleiner Perkins Caufield & Byers, a founding TiVo board member, and Chairman of the Nominating and Governance Committee that led the CEO search.

"The Board felt that Tom's vast experience in running media and internet companies, his proven track record in creating innovative business models and setting a strategic direction for companies facing the opportunities new technologies present, along with his leadership in securing the Comcast deal for TiVo a few months ago, made him the perfect person to lead TiVo forward," said Geoffrey Yang, general partner at Redpoint Venture Partners, and a founding TiVo director.

Having recognized early the potential of TiVo, Tom first joined the TiVo board in 1999, spearheading NBC's original investment in the Company. He then rejoined the Board in 2003, and took on the role of Vice Chairman of the Board in October, 2004. At TiVo he has led several initiatives for the company, most notably the successful negotiation of a mass deployment deal with Comcast, the world's largest cable company. In addition to his work for TiVo, Tom was Senior Operating Executive at Cerberus Capital Management, a large private equity firm. He also serves as Chairman of Teleglobe , a global telecommunications, mobile telephony and VOIP provider, and Chairman of TRget Media, a media investment and advisory firm.

Previously, Tom was Chairman and CEO of Primedia, the nation's largest targeted media company. Prior to that, he was President of NBC Cable, and Executive Vice President of NBC (a subsidiary of the General Electric Corporation, where he led the creation of CNBC and the formation of the MSNBC partnership with Microsoft). Before joining NBC, Tom was Senior Counsel to the U.S. House of Representatives Subcommittee on Telecommunications, Consumer Protection and Finance. He began his career as an attorney at a Wall Street law firm.

"I've enjoyed watching Tom's passion for TiVo grow from his earliest involvement in the Company through his more recent tenure on the Board. This, coupled with his contributions to many facets of our business during that time, give me real confidence that he will be successful in taking the Company to the next level," said Mike Ramsay. While resigning as Chairman, Ramsay will continue to serve on TiVo's Board, chairing the Technology Committee, providing the Board with a perspective on the key technologies and innovations important to TiVo's success. Mike Ramsay and Jim Barton, Chief Technology Officer, co-founded TiVo in 1997.

"I have gotten to know a large number of the TiVo team through my board service. It is remarkable to me what this talented group of people has produced -- enabling consumers to control their television viewing experience to fit into their individual lifestyles. Mike Ramsay deserves enormous credit for all that TiVo is and has achieved," said Tom Rogers.

"We are all very grateful for Mike's patience in the search process, his willingness to continue to serve on the board and help us maintain TiVo's leadership technology position with continuing innovation and differentiation," said Randy Komisar.

Howard Fischer Associates conducted the search that brought Tom Roger's to TiVo's board.

Founded in 1997, TiVo, a pioneer in home entertainment, created a brand new category of products with the development of the first digital video recorder (DVR). Today, the Company continues to revolutionize the way consumers watch and access home entertainment by making TiVo the focal point of the digital living room, a center for sharing and experiencing television, music, photos and other content. TiVo connects consumers to the digital entertainment they want, where and when they want it. The Company is based in Alviso, Calif.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, TiVo's business, services, business development, strategy, customers or other factors that may affect future earnings or financial results. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the "Factors That May Affect Future Operating Results." More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, and the Quarterly Reports on Form 10Q for the period(s) ended April 30, 2004, July 31, 2004, October 31, 2004, filed with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. TiVo disclaims any obligation to update these forward-looking statements