Harmonix shareholders awarded $383 million from Viacom

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HarmonixWins

Now this is how you really do business in the real world.

Harmonix, the makers of Rock Band, Dance Central and Guitar Hero, sold itself to Viacom in 2006 for a cool $175 million plus bonuses and profit share over a certain level.

Then in 2007 they received $150 million in bonuses and things were looking great but then came 2008 and Viacom paid over absolutely nothing and tried to get their $150 million back.

Both of them subsequently filed lawsuits as Americans do and carried on working together. In 2010 Harmonix bought itself back for $50. No I’m not missing the million indicator but it wasn’t all bad for Viacom as they received a $50 million tax break in the process.

And now the courts have awarded Harmonix $383 million in missing bonus payments which means that Harmonix clocked up $708 million in 5 years minus the $50 that they had to fork out.

Viacom are currently contesting the payout but they should be careful as Harmonix feels it is actually owed $550 million from Viacom so they could still get more out of this.

Last Updated: January 4, 2012

Gavin Mannion

I for one welcome our future robotic overlords

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