But Harmonix' IP will probably find a good home: The company could fetch between $125 million $150 million in a sale, said Mathew Harrigan, an analyst at Wunderlich Securities. He cited Activision Blizzard ( ATVI) as the most likely buyer, as the company features the financial wherewithal and a portfolio of similar music titles -- including the rights to Guitar Hero, Harmonix' first commercially successful game.However Activision, which couldn't be reached for comment, has recently said it plans to scale down the number its music titles going forward due to declines in the genre. Other large video game publishers including Electronic Arts ( ERTS), which distributes Rock Band, are also likely candidates to buy, analysts said. Media Giants' Gaming Troubles With few exceptions, many media giants -- like Warner Communications years ago and more recently, Disney ( DIS) -- have entered the console gaming business with minimal success, said THQ ( THQI) CEO Brian Farrell in an interview. Viacom, the owner of BET Networks, MTV and Paramount Pictures, likely saw the gaming market as similar to the movie industry, as releases in both sectors require large production and marketing costs. The problem, say analysts, is that to produce hits on a regular basis, video game publishers must possess a technical know-how and domain expertise -- too narrow a vision for large, non video game-minded companies. "We've seen many large companies get in and out of the games business," Farrell said. "You need laser focus and a team that does video games 24/7." Viacom made another unsuccessful foray into gaming in the mid-1990s, acquiring a majority stake in U.K.-based video game publisher Virgin Interactive Entertainment. By 1997, the company was overspending on key projects and marketing, which resulted in mounting losses for the business. Viacom sold Virgin Interactive Entertainment's U.S.-based assets to EA, while a U.K.-based buyout team took control of the rest of the company. Today, a sale of Harmonix is likely a relief to Viacom's investors, said James Goss, an analyst at Barrington Research. "While Rock Band was a pretty big hit, its growth was choppy," he said. "The business just didn't hit the smooth growth that Viacom is trying to create." Hopefully for Harmonix, which recently turned out Rock Band 3, it will get added soon to someone else's playlist. --Written by Olivia Oran in New York. Editor's note: Don't miss part five of TheStreet's Small Business Success Webinar Series, featuring tips and insights from successful entrepreneurs, on Thursday, Nov. 18, at 2 p.m. ET. Click here to register. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.