Got A Tip?

Star Seeker

Legal Matters

Viacom Owes Rock Band Creators A Lot Of Dough

Viacom Owes Rock Band Creators A Lot Of Dough

rock_band_cover-web.jpg
Viacom is regretting purchasing Rock Band creator Harmonix.
Arbitrators ruled that Viacom owes Harmonix shareholders $383 million. Viacom purchased the company so MTV and VH1 could hop on the Guitar Hero bandwagon.
Viacom initially payed $150 million bonuses to shareholders after purchasing Harmonix.
But due to high production costs, Viacom couldn’t profit from 10 million Rock Band units being sold, so they wanted take-backsies.
Harmonix originally sued Viacom for $700 million. Viacom has countersued for arbitrators to look over facts left out of the initial hearing.
Who knew video games could be this imporant?

CLICK HERE TO COMMENT
Dec 29, 2011 03:00am PDT

Share This