{"id":23569,"date":"2013-07-26T07:50:00","date_gmt":"2013-07-26T14:50:00","guid":{"rendered":"http:\/\/www.quartertothree.com\/fp\/?p=23569"},"modified":"2013-07-26T10:47:44","modified_gmt":"2013-07-26T17:47:44","slug":"activision-blizzard-is-busting-loose-from-their-french-overlords","status":"publish","type":"post","link":"https:\/\/www.quartertothree.com\/fp\/2013\/07\/26\/activision-blizzard-is-busting-loose-from-their-french-overlords\/","title":{"rendered":"Activision Blizzard is busting loose from their French overlords"},"content":{"rendered":"<p><a class=\"fancybox\" rel=\"23569\" href=\"http:\/\/www.quartertothree.com\/fp\/wp-content\/uploads\/2013\/07\/big_bobby_k.jpg\"<\/a><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.quartertothree.com\/fp\/wp-content\/uploads\/2013\/07\/big_bobby_k.jpg\" alt=\"big_bobby_k\" width=\"600\" height=\"356\" class=\"alignnone size-full wp-image-23575\" \/><\/a><\/p>\n<p>Activision Blizzard is buying itself out from under Vivendi in a share aquisition deal for $8.17 billion. The <a href=\"http:\/\/files.shareholder.com\/downloads\/ACTI\/2604032341x0x679723\/4c319be0-89c9-4aae-a239-777db7da704c\/ATVI_News_2013_7_25_Activision_Publishing_Inc.pdf\">details<\/a> of the deal note that this will be a two-part buyout with $5.83 billion coming from 429 million company shares and another $2.34 billion from 172 million shares owned by CEO Bobby Kotick and Co-Chairman Brian Kelly. Kotick seemed excited by the opportunity to break away from their parent company.<\/p>\n<blockquote><p>&#8220;These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi. We should emerge even stronger &#8211; an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world&#8217;s most important entertainment companies. The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability.&#8221;<\/p><\/blockquote>\n<p>Activision Blizzard has been under Vivendi&#8217;s rule since mid-2008 when the companies merged with Vivendi claiming majority shareholder status. According to the <a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887323829104578619832424766570.html\">Wall Street Journal<\/a>, the Vivendi board had been considering extracting $3 billion from Activision Blizzard&#8217;s coffers after their stock hit a nine-year low following disappointing financial results for the media conglomerate.<\/p>\n<p>The announcement of Activision Blizzard&#8217;s independence comes <a href=\"http:\/\/www.quartertothree.com\/fp\/?p=23443\">one day before<\/a> StarCraft II&#8217;s third anniversary.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1684,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-23569","post","type-post","status-publish","format-standard","hentry","category-games"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Activision Blizzard is busting loose from their French overlords - 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