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MTV Networks, a division of Viacom (VIA) - Get Viacom Inc. Class A Report, agreed to acquire Harmonix Music Systems, the developer of the PlayStation 2 hit Guitar Hero and other music-game titles.

The terms of the transaction call for MTV Networks to pay $175 million in cash. MTV expects to close the acquisition in the fourth quarter.

Shares of Viacom closed Thursday at $37.07.

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