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Harmonix Sold

Reuters follows up on Viacom's plan to sell Harmonix, saying the Cambridge, Massachusetts-based developer behind the Rock Band series has been sold to investment firm Columbus Nova. Terms of the sale are not disclosed, but they quote Wedbush Securities analyst James Dix saying the deal will likely contribute between $100 million and $200 million to Viacom, "in large part from tax benefits and the buyer's assumption of liabilities such as write-downs on holiday sales." They also note financial statements say that Viacom's net loss from operating Harmonix for the nine months ended September 30 was $316 million. Word is: "Columbus Nova, which created Harmonix-SBE Holdings to hold the asset, is a multi-strategy investment firm managing over $10 billion of assets through its own funds and affiliated portfolio companies."

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2. Re: Harmonix Sold Dec 23, 2010, 23:51 ViRGE
 
Dev wrote on Dec 23, 2010, 22:07:
I'm not sure a random investment firm who care solely about the biggest return is the best group to run a game company.
No, it's pretty much the worst thing. Even EA would have been better.
 
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