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Viacom Sells Rock Band Video Games

  • Reuters, Sunday, December 26, 2010 11:50 PM
Viacom has sold Harmonix Music Systems, the developer behind the Rock Band franchise, to the investment firm Columbus Nova and gained an estimated $200 million in the deal, ending a failed foray into the video game business.

Analysts have long questioned the value of Rock Band for a company known more for cable networks MTV and Nickelodeon and film studio Paramount Pictures. Viacom said in November it was putting Harmonix up for sale. Harmonix-SBE Holdings LLC, an affiliate of investment firm Columbus Nova LLC, will pick up the asset. Terms of the sale were not disclosed. The Harmonix net loss to Viacom from discontinued operations for the nine months ended September 30 was $316 million, according to financial statements.

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