ALVISO, California ( TheStreet) -- Dish Network ( DISH - Get Report) and EchoStar ( SATS - Get Report) agreed to pay TiVo ( TIVO - Get Report) $500 million to settle patent litigation.

Dish Network and EchoStar initially will pay TiVo $300 $300 million with the remaining $200 million distributed in six equal annual installments between 2012 and 2017, the companies said in a joint press release.

The parties also granted certain patent licenses to each other.

TiVo first sued Dish Network and EchoStar in 2004 for infringing on patents covering its "Time Warp" digital video recorder technology.

-- Written by Joseph Woelfel

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