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Rock Band creators to receive $300m bonuses

Tue 11 Nov 2008 9:27am GMT / 4:27am EST / 1:27am PST
Business

MTV parent company, Viacom, to offer payout as part of acquisition deal for exceeding performance targets

Viacom has announced that it is set to pay the creators of the Rock Band franchise bonuses exceeding USD 300 million as part of the 2006 acquisition of their company.

Harmonix founders Alex Rigopulos, 38, and Eran Egozy, 37, received USD 150 million last quarter for exceeding performance targets and will receive a final payment in 2009 which will exceed USD 150 million.

"We may not have anticipated the payment would be that high, but it's based on what they have achieved," Viacom spokeswoman Kelly McAndrew told Bloomberg. "If they are making more money for us and we have to give a little back, that's ok."

This confirms earlier reports based on Viacom's Form 10-K statement, which indicates that the company offered the payment as a financial incentive as part of the developer's acquisition by MTV.

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