‘No fee’ for Harmonix buyout

MCV Staff 4th January 2011 Business News

Media giant Viacom sold Rock Band developer Harmonix for a nominal fee, an unconfirmed report has claimed.

An article published on All Things Digital said investment group Columbus Nova paid the nominal fee in a so-called fire sale.

I’m told that investment group Columbus Nova paid $49.99 — the list price for Rock Band 3,” the report reads.

The suggestion is that shares were bought for virtually nothing to counterbalance the high cost of taking on the studio’s debts, which Viacom was keen to be rid of.

For the full story, head over to Develop.

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