Viacom To Sell Rock Band Creator Harmonix

UgLyPuNk tips news that Harmonix, the game developer behind Rock Band and the early Guitar Hero games, will be sold by parent company Viacom, signaling the media conglomerate's exit from the console game market. Quoting Wired: "The news is yet another ominous sign for the music-game business, which exploded seemingly overnight in 2005 with the release of Guitar Hero. ...sales have been in free fall since the dizzying heights of 2008, with Guitar Hero: Warriors of Rock moving only 86,000 copies in its first week... Thus far in calendar year 2010, the balance sheet seems to show that Harmonix has been a $300 million liability for Viacom. And it doesn’t look like Viacom believes in the long-term future of music games. With any luck, the company will find a buyer that can help Harmonix grow, but it’s hard to imagine a better partner in the music biz than MTV."