Court Orders Viacom to Pay Harmonix $300 Million
The last time we had heard anything about Viacom’s foot-stomping, fingers-in-ears, breath-holding tantrum about not wanting to pay Harmonix the bonuses they deserved was at the end of last year. Since that time, Viacom has been scheming talking with lawyers to get the $383 million arbitration agreement nullified. While soon after the arbitration’s ruling, Viacom paid the former Harmonix shareholders $84 million, while still disputing the remaining $299 million.
This all changed late last week when Viacom’s latest litigation was dismissed, and was again ordered to make good with the $300 million they owed Harmonix. So does that mean Viacom is finally going to pay the Harmonix shareholders their money? Not necessarily. In a statement to The Hollywood Reporter, Viacom says: “We are disappointed in the court’s decision, and are evaluating our options for the next steps of this process.”
The beat goes on, I guess…
[via Hollywood Reporter]
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Riggopoppa is straight ballin’
Well, it looks like John Drake will get his wish to build the world’s largest water slide…
CONVERT THE CURRENCY INTO DIET COKE AND NUGGS
And now gentlemen we will buy Led Zeppelin.
Numskull Reply:
August 13th, 2012 at 2:28 pm
Money paid to Harmonix shareholders does not mean money funneled back into the Rock Band franchise.
RockBandAide Reply:
August 13th, 2012 at 2:34 pm
This, unfortunately.
killer_roach Reply:
August 13th, 2012 at 3:17 pm
Last I knew, there was no definitive knowledge of the ownership of the group that owns Harmonix, although it’s been rumored that it’s just Rigopoulos and Ergozy.
Regardless, it’s no guarantee that it gets funneled directly into Harmonix itself, and, even then, no guarantee that said money gets put into current projects.
RockBandAide Reply:
August 13th, 2012 at 3:24 pm
I’ve never heard that rumor, and I would be SHOCKED if it was just the two of them. I’m assuming there is some sort of angel or VC investment firm that holds a majority of the shares, that is unless the company was funded completely out of Rigopulos and Egozy’s pockets (which I couldn’t imagine unless it was a two man operation run out of their garage, which it wasn’t).
osteofight Reply:
August 13th, 2012 at 3:59 pm
I never said they’d buy Zep to make their songs DLC. I was thinking of having them dress like in monkey vests and fezzes and playing as the HMX office house band.
samjjones Reply:
August 14th, 2012 at 1:20 pm
I’ve heard that Robert Plan vacuums a helluva rug.
Viacom, pwn’d.
Viacom pisses me off with this. It goes like this: small company comes up with a great idea. Produces it and makes a fair about with it’s limited resources. Catches the eye of a bigger company and said company ‘buys them out’. With the big company behind them the small company makes more money that they ever would solo, for both. But since small company doesn’t ‘projected numbers’ (read: wishes and hopes) they aren’t profitable and companies part ways. Now big company doesn’t like to pay and tries to crush little one. Saying ‘X’ amount was projected and we only make 1/2X. It still might be very profitable…just not enough and could be even be more that contract amount projected/ promised. Again, just bothers me what some bigger companies do!
I will never buy another viacom.made product. Nj folks!
Jersey Shore: Rock Band
Viacom: Removing harmless YouTube videos and throwing a fit over paying a company what they said they would.
Seems legit.