MTV buys Harmonix @ Gaming Target

Written by John Scalzo on September 22, 2006

News: The music game maker joins Music Television.

Harmonix, developers of the smash hit Guitar Hero and the upcoming Guitar Hero II, have been purchased by MTV for $175 million in cash.

After the deal, Harmonix will still devolop games for consoles, but will also branch out into mobile and on-line development for MTV.

Naturally, the talking heads were very pleased:

"The acquisition of Harmonix will deepen MTV's connection to its audience via on-line, mobile and console music gaming, and expand the relationship with both labels and artists through the creation of games based on classic songs as well as future album releases," said Christina Norman, President, MTV. "Harmonix's technology allows everyone to pursue their rock and roll fantasies, even people like me, with more musical ambition than actual talent."

"Harmonix is a wonderful addition to Viacom's tremendous collection of digital assets, and is precisely the type of transaction that will help us aggressively grow our digital business while maintaining strong fiscal discipline," said Philippe Dauman, President and CEO, Viacom Inc. "We're committed to a swift integration and look forward to helping Harmonix become even stronger with the support of the incredible marketing and creative power at MTV Networks."

"The acquisition of Harmonix advances MTV Networks' strategy of connecting with target audiences by creating immersive, multi-platform environments that extend to every device they use," said Judy McGrath, Chairman and CEO, MTV Networks. "Harmonix is an innovator in giving audiences new and dynamic ways to interact with music, and I couldn't be more excited to welcome the company into MTV Networks' strong portfolio of multi-platform brands."