The European Commission has approved the high-profile $9.85 billion merger of video game publishers Vivendi and Activision, allowing the creation of the resultant company Activision Blizzard, according to a Reuters report
With annual revenue of $3.8 billion, the merged entity has been said to be the largest console game publisher in the world, with only major rival Electronic Arts close in terms of game-related yearly revenues.
The Commission found no evidence that the Activision Blizzard deal would halt competition in the gaming market, stating that for "all categories of game software, the combined firm would continue to face several strong, effective competitors, such as Electronic Arts, and the game console manufacturers, such as Sony, Nintendo and Microsoft."
As part of the now EU-approved deal, Vivendi will have a 52% stake in Activision Blizzard, with Vivendi chairman Rene Penisson taking the chairman slot in the new company. Activision chairman and CEO Bobby Kotick will become president and CEO of Activision Blizzard.