Register

I agree with the Privacy Policy

Entertainment

Viacom to Unload 'Rock Band' Unit

By , November 18, 2010

rock band logo Viacom Inc. the New York-based entertainment company is preparing to unload its Harmonix videogame division, maker of the popular "Rock Band" line of games. Viacom reported profit for the latest quarter fell 59% after it took $260 million in write-downs related to Harmonix, which has long been a drag on the bottom line.

Harmonix has been on the block since September, and Viacom is now in deal talks with both videogame companies and private-equity firms, according to people familiar with the matter. Viacom is expected to hold an auction, and as many as four companies might participate, one of those people said.

Viacom bought Harmonix in 2006 for $175 million, and made an additional $150 million payment in 2008 as part of the deal. But for much of that time the unit has been locked in brutal competition with rival game "Guitar Hero," from Activision Blizzard Inc., which is roughly 60%-owned by Vivendi SA.

For the complete article, please click here.

More from

July 31, 2022

Parks Associates Welcomes MediaKind as 2022 Future of Video Sponsor

Parks Associates’ Future of Video: OTT, Pay TV, and Digital Media is excited to announce MediaKin...

September 19, 2022

The Advantages of OTT Bundling - Insights from Verimatrix

Parks Associates’ Future of Video: OTT, PayTV, and Digital Media continues on Thursday, September...

October 30, 2022

In-Person Future of Video Conference to Explore Latest Industry Trends

Parks Associates will host the fifth annual Future of Video: OTT, Pay TV, and Digital Media Decem...