Riccitiello: Buying Harmonix like catching “a falling knife”

Harmonix is the creator behind one of the biggest party franchises in the gaming industry — Rock Band — and its owners, Viacom, are looking to sell. If this had been the case two years ago, Harmonix would be a hot commodity that every major publisher would probably be making a push for. Unfortunately for Viacom after the lacking sales behind Rock Band 3 and the way the genre has nose-dived as of late, it may seem as though finding a buyer will be tougher than originally thought.

Electronic Arts CEO John Riccitiello understands that it would almost seem automatic that the company would make a bid for Harmonix considering it has published Rock Band through the EA Partners group, but says doing so would be like catching “a falling knife.”

“There is going to be a time when perception catches up with the facts,” he said to Bloomberg.

“Moves that look like I’m doubling down on yesterday would make it harder still to convince investors that tomorrow is the Promised Land. I’m sure some smart investor will buy the business feeling that they can catch a falling knife, but more people have been cut trying to catch falling knives than have benefitted from getting the timing exactly right.”

As many of you know, Rock Band 3 disappointing to the rocking tune of 7,000 units sold in its first week of retail in the United Kingdom. Though it did perform much better in North America, it wasn’t anything to be excited about. Sadly, Harmonix is going to struggle to find a home and unless the one trick pony can come up with a new idea, it may be in trouble.