Viacom to Sell Rock Band Producer Harmonix

Viacom Inc. has decided to sell ROCK BAND producer Harmonix, according to The Hollwyood Reporter.

Viacom Inc. has decided to sell ROCK BAND producer Harmonix, according to The Hollwyood Reporter. The company lost $87 million in 2009 and $24 million in 2008. Sales of music games have been dropping rapidly.

In 2006, MTV Networks paid $175 million for Harmonix. Viacom issued $150 million to shareholders for the company's 2007 performance and is now looking for a refund of most of that money.

Activision and Electronic Arts are the top contenders to acquire the company. Activision produces ROCK BAND's top competitor GUITAR HERO. The company is estimated to have a price tag of between $50 and $100 million.

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