Viacom Sells Harmonix To Columbus Nova
Viacom, Inc. (NYSE:VIA.B) has sold Rock Band franchise company Harmonix for $200 million to Columbus Nova. Analysts of Viacom’s business strategy have questioned why a company known for cable networks is involved in the video game industry.
Viacom had announced this past November that they were putting Harmonix up for sale. Viacom will likely gain $100-$200 million in tax benefits and the buyer assumption of liabilities.
“Columbus Nova is really excited about backing the world-class team that has consistently produced such great games and helping them grow the company and its brands,” stated a company spokesperson.
[Reuters]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry