Rovi rallies on Roxio sale and revenue projections

Shares in top interactive program guide technology vendor Rovi (Nasdaq: ROVI) jumped nearly 15 percent Friday after the company said that it would sell its Roxio digital media software and security business to Corel.

The Roxio deal came hours after Rovi disclosed in a Securities and Exchange Commission filing that it expects to generate $810 million to $840 million in revenue in 2012, and earnings per share of $2.50 to 2.80. Rovi didn't disclose terms of the Roxio deal, which could help it focus on its core business of selling interactive program guides to pay TV distributors worldwide.

Rovi has also benefited from multiplatform distribution, and also distributes guides for connected TVs and mobile devices.

For more:
- see the news release about the Roxio deal
- see Rovi's 8-K filing at SEC

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