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Vivendi to let go of half of its Activision Blizzard shares
Vivendi to let go of half of its Activision Blizzard shares
May 21, 2014 | By Christian Nutt

May 21, 2014 | By Christian Nutt
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French media conglomerate Vivendi once owned a majority stake in Activision Blizzard, but soon will own less than 6 percent of the company -- after it offers 41.5 million shares of Activision Blizzard stock in a public sell-off.

Activision Blizzard and Vivendi announced plans to part ways last July, when the video game company instituted a stock buyback program to capture a large part of Vivendi's shares. CEO Bobby Kotick also lead a cohort of investors, including Chinese publisher Tencent, to buy another swath of the video game company's shares.

The 41.5 million shares Vivendi is selling represent half of its current stake in the company, which after this latest sale will be down to 5.8 percent. Bloomberg Businessweek points out that this sale will be worth about $866 million at today's stock price.


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Michael Joseph
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Activision went from 0 debt to 4.6B in debt after the Vivendi shares buyback and Kotick / Tencent deal (which did not lower the float) .

http://finance.yahoo.com/q/bs?s=ATVI

Their stock is somehow near record highs (they beat the street last quarter and it seems mostly by cutting costs as opposed to increasing revenue). WoW subscriptions have fallen to 7.6M down from the peak of 12M three years ago. Titan is still vaporware and not likely to be another big subscription based product. It's a risky time for them.

Sounds like a good time to sell shares of ATVI.


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