U.S. Markets closed

Rovi loses in initial patent dispute review

SANTA CLARA, Calif. (AP) -- Rovi Corp.'s shares fell Monday after an initial decision in a patent dispute did not come down in the interactive TV listing company's favor.

The Santa Clara, Calif., company argued that Netflix Inc. and Roku had infringed on four of Rovi's patents. But an administrative law judge for the United States International Trade Commission determined that the companies had not infringed on the patents.

Rovi said that it is disappointed in the initial determination and plans to petition the full commission of the ITC for a review of the decision.

The company had already settled with three other consumer electronics companies that were named in the original 2012 complaint.

Rovi holds more than 5,000 patents and pending applications, many of which have to do with interactive TV guides, listings data and technology used to protect digital video content. It makes most of its revenue from licensing its technology to consumer electronics manufacturers or video providers.

The company's shares were off 4 percent to $25.39 by late afternoon.