TVWeek.com reported the company's new digial video recorder will allow viewers to watch one program while recording two others simultaneously and all in a high-quality audio and video format.

Aimed at home theater aficionados, the new stand alone system will mark TiVo's second foray into high-definition DVRs after DirecTV ceased offering the company's previous unit to consumers.

The new product also represents advancement in the field of home DVRs, an area in which TiVo has a reputation for being the best and most user-friendly.

The company's Web site said that while the new product offers new services and higher quality to its owners, its pricey $799.99 tag has TiVo expecting sales to occur mainly in higher-end locales.