Post: Viacom Sold Harmonix for $50
01-04-2011, 08:47 PM #1
Cobra-D
Smells Like Teen Spirit
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Originally posted by another user
Evidently fifty bucks is all it takes to purchase a developer that was once bought for $175 million, provided the genre they specialize in has hit a tremendous cold streak. All Things Digital reports that, according to "people familiar with the transaction," when Viacom sold Rock Band developer Harmonix to investment group Columbus Nova last month, Columbus Nova only paid a scant $49.99.

Yes, that's crazy cheap, considering -- once again -- that Viacom originally purchased Harmonix for $175 million. But Viacom didn't exactly get screwed in the deal, which is apparently more complex than it seems. As part of the terms, Columbus Nova also reportedly assumed all of Harmonix's liabilities, including music rights fees and responsibility for all unsold games and accessories occupying warehouse space. On top of all that, the deal was also reportedly structured in a way that netted Viacom $150 million in tax benefits.

So Viacom, in a way, appears to just about break even, and Harmonix gets a new financier. Still, if these sales terms are indeed accurate, it's a shocking example of just how sour sales in the once red-hot rhythm game genre have apparently gone. The most up-to-date numbers aren't available, but initial results showed both Rock Band 3 and Guitar Hero: Warriors of Rock were off to far slower starts compared to past games in their respective franchises.


Hmm I would have paid a hundred
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01-04-2011, 08:51 PM #2
Cudder
Read My Mind
Good choice to ditch the company, rock band and guitar hero are dying franchises
01-04-2011, 09:42 PM #3
this is crazy
01-04-2011, 10:24 PM #4
ForeverBailey
Find me on Steam.
Rock band may be dying in the US, but in the EU we barely get to even touch it, None of our major stores stock the pro instruments or even most of the normal instruments, theres no advertising for the game over here, and yet we all want it, it seems Rock band was made solely for the US and they decided for a lil extra money to allow people outside to buy it.

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