Viacom is looking to get back some of the money it paid out when it acquired Rock Band maker Harmonix, reports Paid Content. Viacom, parent company of Rock Band publisher MTV Games, bought Harmonix in late 2006. Paid Content says the acquisition was for $175 million plus earn out payments based on performance of Rock Band products in 2007 and 2008, of which Harmonix shareholders received $150 million in 2007. The news outlet cites a Viacom 10-K filing stating that the company believes they are entitled to a refund of a substantial portion of earn outs paid to Harmonix founders. The filing does not specify the total earn outs Viacom paid nor the refund it is seeking. Paid Content says the company made further statements during its quarterly earnings report that it is looking to reduce costs incurred from its Rock Band business. Read more at Paid Content {link no longer active}.
Viacom Seeks Refund From Harmonix Buyout
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