TiVo Lowers Prices After DirecTV Sells Shares

In an effort to gain new subscribers, PVR pioneer TiVo has lowered prices on its home networking services and set-top boxes.

The new pricing plan comes one day after DirecTV Group sold its stake in TiVo for $24million.

According to TiVo, the new pricing plan for the monthly subscription will remain the same at $12.95 while each additional subscription will cost $6.95, cutting the fee nearly in half for the extra TiVo boxes.

TiVo devices can pause live TV, set up recordings based on user's viewing habits and skips past commercials.

New offerings include a standard feature system that connects TiVo's Series 2 digital video recorder (DVR) to user's home computer network. The system, previously called Home Media Option, cost $99 as a one-time fee, allows TiVo users to schedule TV recordings from the Internet and move content between two or more TiVo boxes, such as digital music or photos.

To increase sales, TiVo plans to spend $50 million in marketing and promotions.