According to Gamasutra, it looks like the bid for independence from Activision-Blizzard to separate from Vivendi is moving forward. Read on for more details.
From the Gamasutra story:
Activision Blizzard first announced intentions to buy back a majority stake from the media conglomerate in July, in order to become an independent (albeit publicly-traded) corporate entity. However, severalshareholders filed suit against the publisher, arguing that the stock purchase disproportionately benefited Activision CEO Bobby Kotick and an elite group of investors, leaving the rest of Activision shareholders out in the cold.
The suits successfully blocked Activision Blizzard from pursuing the buyback deal pending a vote from shareholders. Activision appealed the injunction with the state supreme court in late September, resulting in today's court judgment in favor of the publisher. The company now expects to complete the stock purchase by October 15th.
Business analysts from Wedbush Securities were optimistic at the news, expecting an uptick in Activision Blizzard share prices to follow the announcement.
Read the rest at Gamasutra.