Activision Blizzard splits from Vivendi
Activision Blizzard has made a move to become independent from their struggling parent company the French media giant Vivendi.
After a series of stock purchases totalling 8.2 billion USD Activision Blizzard has managed to buy itself to independence and is now a publicly-owned entity with Vivendi retaining just a 12 percent stake in the company.
The ever-vocal president and CEO of Activision Blizzard, Bobby Kotick said, “These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi.”
“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,” he added. “The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than 3 billion USD cash on hand to preserve financial stability."
Thanks Develop Online.