In its fiscal third quarter report, Viacom has announced its plans to sell Rock Band and Dance Central developer, Harmonix.
The report notes that the company’s third-quarter earnings fell 59 percent due to write-downs even though overall revenues and income have surpassed analysts projections. The act of “write-downs” reduces the value of Harmonix, being overvalued, in respect of its own market value. For the adjustment to work, Viacom must classify Harmonix as a “discontinued operation.”
Legal mumbo-jumbo aside, will Activision or EA seize the opportunity to buy the developer and assimilate it into its corporate sphere? For the former, will Activision hold both Guitar Hero and Rock Band IPs if the sale goes through? Harmonix has noted that the sale will not affect current operations and Viacom will continue to support Rock Band 3 and Dance Central, at least, until the transaction is complete.
