Viacom To Pay $84M Of 'Band' Award, Leaving $299M In Air

Law360, Wilmington (June 20, 2012, 8:00 PM EDT) -- The Delaware Chancery Court on Friday signed off on a $84 million settlement between Viacom International Inc. and former shareholders of Harmonix Music Systems Inc., partly wrapping up an arbitrator's finding that the media giant owes $383 million under a merger agreement.

Viacom acquired Harmonix, creator of the “Rock Band” and “Guitar Hero” video games, in 2006 for $175 million plus future “earn-out” payments based on 2007 and 2008 profits. A dispute arose over the extent of the additional payments, and on Dec. 19 an independent...
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