Viacom's Harmonix Sale Valued at $150 Million
NEW YORK - When Viacom unveiled a deal to sell Rock Band creator Harmonix to investment firm Columbus Nova, the companies didn't disclose financial details. Few believed it had fetched a big price tag though.
A source confirmed that Viacom received about $150 million in total value in the deal, including tax benefits and other things. But the cash payment included was hardly worth mentioning.
All Things Digital's MediaMemo had first mentioned a $150 million figure Tuesday morning in a post that highlighted that Harmonix went for a song - "a really, really cheap song." However, the report also said that Columbus Nova paid only $49.99 in cash, the list price for Rock Band 3.
The rest came as Viacom also received additional value. MediaMemo mentioned tax benefits and said Columbus Nova also assumed Harmonix's liabilities, such as expensive music rights fees and unsold games.
Viacom's MTV Networks unit had bought Harmonix in 2006 for $175 million.