MTV Pays Harmonix Additional Monies

06 Nov 2008 at 11:01:09 by

The success of Harmonix’s Rock Band has meant former shareholders of Harmonix will receive an additional $150 million USD.

MTV paid $175 million USD when it acquired the company back in 2006, but in a quarterly report from Viacom (via Edge), MTV’s parent company, the “success of the Rock Band videogame series, the final payment is expected to exceed this year's payment.”

“The payment amount is based on financial results in excess of specific contractual targets against a defined gross profit metric.”

This will bring the total payment to $325 million USD.

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