REPORT - Viacom Confirms Major Tax Benefits From Harmonix Sale, Lawsuit Defense

Viacom generated a tax benefit of approximately $115 million dollars with the sale of Guitar Hero and Rock Band creator Harmonix, according to its filings with the Securities and Exchange Commission. When Viacom sold the developer for the surprising sum of $49.99 late last year, it was widely reported that it had done so in order to reap a major tax benefit for closing a sale by the end of 2010. With this figure officially revealed, this appears to have been the case.