Viacom May Need to Pay Harmonix a Total of $700 Million to Sever Ties Completely
Looks like Viacom got more than it bargained for when it bought Harmonix in 2006. The media conglomerate sold its stake in the Rock Band-maker for $50 back in 2010, but not before getting slapped with a lawsuit by the developer for $550 million. Turns out Viacom paid Harmonix a $150 million bonus in 2007, asked to have it back and didn’t pay bonuses for the next two years it owned the developer.
All told, the Rock Band developer is looking for a total of $700 million from the media giant, which owns MTV and Paramount. When Viacom bought Harmonix, the conglomerate didn’t foresee just how much it would lose on the Rock Band franchise by having to manufacture hundreds of thousands of plastic controllers. We’ll let you know how this whole mess plays out as Viacom navigates these claims.