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World of Warcraft : Bobby Kotick Leads Buyout of Activision-Blizzard

Posted Jul 26, 2013 by Suzie Ford

CEO Bobby Kotick has led an investor buyout of Activision-Blizzard from Vivendi. Under the terms of the buyout, Kotick and an investment group have purchased nearly $9 billion worth of stock shares from Vivendi. Activision-Blizzard will become an independently held company after the purchase is finalized.

With Vivendi no longer a major stakeholder, Activision Blizzard becomes an independent company led by Kotick and Kelly, whose investment group also includes Chinese operator Tencent, Davis Advisors and Leonard Green & Partners.

"These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi," said Kotick.

"We should emerge even stronger-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'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."

During the quarterly investor's call, it was also revealed that World of Warcraft subscriptions have fallen to 7.7 million, down from the last report.

Read more at GamesIndustry.biz.

 
 
 
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