Rock Band Dev. Harmonix Sold For Cheaper Than 1
This may be a sign that competitor Guitar Hero may be stealing the market away from its rival, or the big money makers are in cahoots. Either way, the entire development company sold for less than the price of one game disc at $49.99. More inside.
Rock Band developer Harmonix was sold for a pittance.
According to a report from the Wall Street Journal, the music game developer was sold to investment group Columbus Nova for a measly $49.99. Columbus Nova had to assume Viacom's remaining liabilities, however, which includes the company's "expensive music rights fees, and responsibility for lots of unsold games and equipment sitting on warehouse shelves."
The deal, first announced in late December, allowed the studio to go independent. The team is currently developing several unannounced projects and will continue to support the Rock Band franchise with post-release downloadable content.
The report also states the deal is structured so that Viacom/ MTV Networks will net roughly $150 million in tax benefits. The mega-conglomerate purchased the developer back in 2006 for $175 million.
Both Viacom and Harmonix would not comment on the report.