Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
May 5, 2016
arrowPress Releases
May 5, 2016
PR Newswire
View All






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Activision Blizzard's split from Vivendi to move forward, court rules
Activision Blizzard's split from Vivendi to move forward, court rules
October 10, 2013 | By Kris Ligman

October 10, 2013 | By Kris Ligman
Comments
    Post A Comment
More: Console/PC, Business/Marketing



Faced with shareholder lawsuits halting a pending split from parent company Vivendi, the Delaware Supreme Court ruled today in favor of Activision Blizzard, permitting the deal to continue.

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, several shareholders 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.


Related Jobs

International Game Technology
International Game Technology — Reno, Nevada, United States
[05.05.16]

Lead Artist
Telltale Games
Telltale Games — San Rafael, California, United States
[05.05.16]

Cinematic Artist
International Game Technology
International Game Technology — Reno, Nevada, United States
[05.05.16]

Art Outsourcing Manager
Schell Games
Schell Games — Pittsburgh, Pennsylvania, United States
[05.05.16]

Project Design Director









Loading Comments

loader image