Viacom puts Harmonix on the block.
MTV parent company Viacom plans to sell Rock Band and Dance Central developer Harmonix.
The announcement came during the company's third-quarter earnings call this morning. Viacom provided no reason for why the developer is up for sale.
A MTV Games spokesperson responded to requests for comment and provided IGN with the following statement:
The announcement came during the company's third-quarter earnings call this morning. Viacom provided no reason for why the developer is up for sale.
A MTV Games spokesperson responded to requests for comment and provided IGN with the following statement:
As announced this morning, Viacom plans to sell Harmonix and have reclassified Harmonix to a discontinued operation.
However, this announcement does not affect the ongoing work at the studio as they continue to support Rock Band and Dance Central. Viacom's decision to exit this business reflects our strategy of focusing entirely on what they do best: make great branded entertainment content and deliver it through a variety of platforms.
Harmonix has and will continue to create terrific video games. But for us, it is about focus. Viacom is in discussions with several potential buyers and will continue to fully support the business until a sale is completed.
Wedbush Morgan Securities analyst Michael Pachter was puzzled by this move.
"They obviously had expectations that were way too high, and in retrospect, they appear to have paid too much for Harmonix," Pachter told IGN. "I am not sure why they're pulling the plug now, as Dance Central is positioned to be very successful.
"I think the buyer is either Activision or EA, with Activision having more to gain by absorbing a key competitor."
Electronic Arts has not responded to requests for comment.
"They obviously had expectations that were way too high, and in retrospect, they appear to have paid too much for Harmonix," Pachter told IGN. "I am not sure why they're pulling the plug now, as Dance Central is positioned to be very successful.
"I think the buyer is either Activision or EA, with Activision having more to gain by absorbing a key competitor."
Electronic Arts has not responded to requests for comment.
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