Riccitiello: Buying Harmonix will be like catching “a falling knife”

By Johnny Cullen, Tuesday, 30 November 2010 10:24 GMT

rockband3

This springs to mind.

EA CEO John Riccitello has told Bloomberg that buying Rock Band developer Harmonix is not in the interests of the company, even though it would make “theoretical” sense.

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

“Moves that look like I’m doubling down on yesterday would make it harder still to convince investors that tomorrow is the Promised Land.”

He added that buying the studio would be like catching “a falling knife”.

“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.”

EA distributes Rock Band for Harmonix via EA Partners, although the latest in the music series, Rock Band 3, sold only 7k in its first week in the UK.

Viacom, owners of the Boston developer, said earlier this month it was putting it up for sale.

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