Viacom is to sell Harmonix - Rock Band and Dance Central for Kinect.
According to AP, "The division, called Harmonix, has dragged on the company's results for the past several quarters as shoppers continue to avoid big discretionary buys."
Poor sales for Rock Band have been targeted as the main reason for the sale. The according to WSJ states that Viacom, "didn't say in a statement why a sale is occurring, but the move resulted in Viacom recording a $299 million loss from discontinued operations. The lion's share of that is write-downs."
Viacom via its subsidiary MTV Games bought Harmonix in October 2006 for $175 million plus additional payments based on the Rock Band maker's performance in 2007 and 2008. In 2010, Viacom demanded repayment of the 2007 bonus due to poor performance.
According to AP, "The division, called Harmonix, has dragged on the company's results for the past several quarters as shoppers continue to avoid big discretionary buys."
Poor sales for Rock Band have been targeted as the main reason for the sale. The according to WSJ states that Viacom, "didn't say in a statement why a sale is occurring, but the move resulted in Viacom recording a $299 million loss from discontinued operations. The lion's share of that is write-downs."
Viacom via its subsidiary MTV Games bought Harmonix in October 2006 for $175 million plus additional payments based on the Rock Band maker's performance in 2007 and 2008. In 2010, Viacom demanded repayment of the 2007 bonus due to poor performance.
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