Viacom apparently received a tax benefit totaling $115 million when it sold Harmonix to Columbus Nova earlier this year. This information comes via Viacom’s filings to the Securities and Exchange Commission.
When it was announced that Viacom had sold Harmonix for a mere $49.99, speculation was that the company was looking to close the deal by the end of 2010 in order to get a tax break. Of the $115 million total, Viacom expects $45 million to be used as a cash refund on previous paid taxes. The remaining $70 million will be saved to offset future taxes.
Viacom also announced that it will “vigorously defend” itself in its legal battle against ex-Harmonix shareholders. The company believes the shareholders’ suit is “without merit.”
[Via Gamasutra]
