Rovi said it has hired GCA Savvian Advisors to assist with the sale.
Rovi Corp had an annual average earnings growth of 6.1% over the past 10 years.
Huggers hired a dream team from companies such as Apple, Microsoft and Rovi.
Product rationalization and operational efficiencies are helping cost control and margin expansion at Rovi.
Rovi said it will pay 55% of the purchase price in cash, and the rest in stock.
Compounding the confusion is when TV makers put lesser-known services, like Vudu, Rovi or CinemaNow, front and center.
Nuance and Rovi are also developing a new application that marries Dragon TV with Rovi's innovative guide technology.
ENGADGET: Nuance adds Rovi's metadata to Dragon TV, becomes annoyingly good at TV trivia
Rovi ( ROVI), which makes interactive TV programming guides, cleared a price consolidation in heavy volume this week.
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This is already being done in various pay-TV and CE connected device implemenations thanks to various companies like Rovi.
Shares of electronic television programming guide vendor Rovi are down sharply after hours Tuesday on a disappointing financial outlook.
In November, Rovi announced third quarter earnings of 35 cents per share, comfortably surpassing the Zacks Consensus Estimate by 52.2%.
Spill.com would use Rovi entertainment data to facilitate navigation and search capabilities.
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Consequently, we have decided to sell the Rovi Entertainment Store business.
GuruFocus rated Rovi Corp the business predictability rank of 2.5-star.
When I first stumbled upon Rovi Corporation (ROVI) I assumed it was the small game development company that had its hand in the development of Angry Birds.
From July 2005 through the end of 2011, he was chairman and CEO of Rovi, the provider of content security and programming guides that was once called Macrovision.
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Following the announcement of the sale of the Rovi Entertainment Store (which was classified as discontinued operations), the company restated its results for the first three quarters of 2012.
Rovi this afternoon said it is seeking a buyer for its Rovi Entertainment Store business, which provides retailers, device makers and others with the ability to offer downloadable digital content.
Rovi also said on its conference call that it sees revenue in 2012 increasing in the mid-to-high single digit range, well below the 15.5% growth that the Street has been forecasting.
"We are pleased to continue our relationship with Rovi and integrate DivX Plus Streaming to add to the high-quality viewing experiences that we offer, " said Takahiro Uchida, Deputy Senior Manager, TV Products Dept.
ENGADGET: Toshiba to launch TVs with DivX Plus Streaming certification
"Our collaboration with Toshiba results in new products for consumers that provide optimized, high-quality playback of streaming entertainment in the living room, " said Simon Adams, SVP, Sales and Marketing, Consumer Electronics, Rovi Corporation.
ENGADGET: Toshiba to launch TVs with DivX Plus Streaming certification
Rovi Corp, formerly Macrovision Solutions Corporation, provides a set of solutions that enable businesses to protect, enable and distribute their digital goods to consumers and allows consumers the ability to discover and manage digital media across multiple channels.
Rovi Entertainment Store, which is helping a range of retailers, service providers, CE manufacturers, content owners, and PC OEMs to drive revenue from over-the-top (OTT) storefronts and cloud-based entertainment, has adopted DivX Plus Streaming as its preferred method of content delivery.
ENGADGET: Toshiba to launch TVs with DivX Plus Streaming certification
Nuance has licensed and will be integrating Rovi's rich entertainment data with Dragon TV to provide TV manufacturers and cable service providers the ability to access the wide variety of Rovi-indexed content for TV shows, movies and cast and crew details just by speaking.
ENGADGET: Nuance adds Rovi's metadata to Dragon TV, becomes annoyingly good at TV trivia
But my point is that the current action smacks of the fast-money types rotating out of stocks like Rovi Corp ( ROVI) and Apple ( AAPL) (both of which I own in portfolios I manage) and into the former yawners such as Home Depot ( HD) and Wal-Mart ( WMT).
It's seriously cool -- the clients all see the server's tuners as their own, so the experience is seamless, and since it all runs on the Tru2way stack, it doesn't matter what kind of client you plug in -- the three clients on the show floor were running interfaces from Intel, Comcast (Rovi), and Digeo.
ENGADGET: Video: Intel Tru2way server streams cable all over your house
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