Speaking to financial analysts after releasing the US entertainment giant's quarterly results, Viacom president and chief executive Philippe Dauman said the decision to sell Harmonix "is about focus."
"Our decision to exit this business reflects our strategy of focusing entirely on what we do best -- make great branded entertainment content and deliver it through a variety of platforms," Dauman said.
"The console games business requires an expertise and scale that we don’t have so we have taken steps to sell Harmonix," he said.
Dauman said that Viacom, whose properties include BET Networks, MTV Networks and Paramount Pictures, was "in discussions with several potential buyers" for Harmonix.
The US entertainment giant's net profit fell 59 per cent in the quarter which ended on September 30 to $189 million while revenue climbed five per cent to $3.33 billion.