TiVo Co-Founder Jim Barton Exits

The co-founder of the digital video recording company will continue as a consultant

TiVo co-founder Jim Barton resigned as the company's chief technology officer and senior vice president on Friday. 

No formal announcement was made about Barton's departure and the news came in a regulatory filing.

"Jim is headed off to pursue his next 'big idea,' but will remain an advisor to the company," Jessica Loebig Monney, a spokeswoman for the company, told TheWrap.

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Barton will be paid $25,000 a month as part of his consulting gig, according to the filing. His duties will include advising the digital video recorder on patent matters, litigation, and technical matters.

His stock options will continue to vest in the company over the consulting period. 

Barton developed TiVo with Mike Ramsay in 1997. Prior to that, Barton served as president and CEO of Network Age Software. 

The no-frills announcement of Barton's departure mirrors the way that TiVo revealed Ramsay was leaving its board of directors in 2007. News that its former co-founder and CEO was out also came via a regulatory filing. 

Deadline first reported Barton's resignation.