Cheap TV Spots Quelches TiVo Buyout Rumor for Press Attention…?

By: Chief Gizmateer, Gizmos for Geeks
Contributing Writer, RealTechNews

You know how they say “any press is good press“? Cheap TV Spots has decided to test that theory with a press release “answering speculation about acquiring TiVo” which has angered bloggers and excited investors.

Cheap TV Spots actually put out a press release which:

responded to blogspeculation regarding a possible buy of TiVo. “Cheap TV Spots has no immediate plans to acquire TiVo,” said company president, Ann Clark. “TiVois actually a better M&A target for Yahoo, Google or ASK.com. We are not ruling out partnering with TiVo or another DVR provider.”

While on April Fools Day this may have been considered humorous, two Wall Street news companies unfortunately picked up the story (Briefing.com and FlyOnTheWall) causing TiVo’s shares to climb 15 cents to $5.49 with double the normal trading volume on Monday.

Considering two months ago “Cheap TV Spots” sent out a press release stating that they were not in talks with “Spot Runner”, we believe this to be manufactured press.

You may have noticed we did not link to “Cheap TV Spots” nor the bogus press release. This was done on purpose to not give free links to the news hungry company.

Source: DVR Playground