The lights are on
The Delaware Supreme Court has lifted a preliminary injunction to pave the way for Activision to buyout 429 million shares (plus tax attributes) in the company from current owners Vivendi for $492 million by October 15.
Previously, a lower court blocked the sale due to a lawsuit filed by shareholder Douglas Hayes, but the state's Supreme Court has ruled that this situation is a stock repurchase and therefore not subject to shareholder approval.
Also in on the deal is investment group ASAC II led by Activision Blizzard CEO Bobby Kotick (above), which will purchase 172 million shares.
[Source: Activision and Gamasutra]
Our Take:By all accounts this is good news for Activision, which will be in a better position now that it's out from under Vivendi.
Email the author Matthew Kato, or follow on Twitter, and Game Informer.
Great news for Activision!
Sweet, +1 for Activision.
Great news. Acti should be free
I have not been interested in any products of ActivisionBlizzard (or Activision) for quite a few years now. I got pressured into buying D3 to play with my buddies and regretted it every minute. I'm hoping now that Activision is free from a debt-filled parent company they can take more creative risks and innovate more. WOW, D3, yearly CoDs, Skylanders and half assed licensed titles just don't interest me.
I'm curious to see what Activision does now that it's fully in control of itself.
Have these Call Of Duty all in Activision.
Curious what will become of things like Call of Duty after this kind of buyout. Will we finally see the franchise actually take a break then and see a new IP replace it? God only knows, but now Activision will probably be swimming in more of its own 1st-person shooter cash for a change. Whoop-dy do.
I hate to say it but damn look at that Jew Fro!!!
while i don't love activision this is definitely good to hear ^^
Great Know Activison can them selves into the ground like THQ. It wasn't fun watching the train rack when some *** was trying to shoot a missile at it. I.E Vivendi.
I guess all good things must come to an end. I am just bummed that Koticvision came out unscathed..
First of all, yay, this is good news. that injunction was worrisome.
Second of all, I don't see how this will really effect the creativity of Acti/Blizzard. This just saves them from the impending doom of Vivendi deciding to cash billions of dollars for themselves that Acti/Blizzard worked really hard to earn.
Third (of all?), people moaning about annualized COD games and wanting more risk taking - you can't have one without the other. COD earns those billions of dollars that they could invest in other IPs.
OMG, That face says Rape all the way ! They could of used a better picture. Too Creepy.
Good for the developers. Might see better products now that they aren't being used as the workhorse for Vivendi Universal.
Good. If Activision had been forced to die a slow death, then that could have potentially destroyed the industry. Whether or not you enjoy their products, you have to admit that there are probably thousands of people who owe their jobs to Activision.