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Standing ovation: ex-Harmonix owners get US$ 150M tip from Viacom

Posted Nov 6, 2008 at 3:05AM EST by QJ Staff

Listed in: Wii, PS3, Xbox 360 Tags: Harmonix, Viacom

Following the phenomenal success of the Rock Band 2 (Xbox 360, PS3, Wii, PS2) franchise, Viacom gave ex-Harmonix owners something a little more substantial than a pat on the back: US$ 150 million.

As per an agreement drafted back in 2006 when Viacom first acquired the then-independent Harmonix, an earn-out fee was to be paid to the former owners of Harmonix based on the performance of the franchise.

An earn-out payment in addition to the US$ 150M is expected to be transfered by 2009. This places the final earn-out tally well beyond the US$ 208.7 million total that Viacom previously predicted.

Viacom stated on the subject:

The payment amount is based on financial results in excess of specific contractual targets against a defined gross profit metric. In light of the success of the Rock Band videogame series, the final payment is expected to exceed this yearÂ’s payment.

With over seven million copies shipped to date according to Viacom, one can say that the old Harmonix team certainly earned their fee and then some. Rock on, Harmonix. Rock on.

Via Edge

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Standing ovation: ex-Harmonix owners get US$ 150M tip from Viacom

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