The company that produces "World of Warcraft" and "Call of Duty," said it would buy back 429 million shares from its parent firm Vivendi for $5.83 billion, the Los Angeles Times reported Friday.
Activision Blizzard Chief Executive Officer Bobby Kotick and Brian Kelly, the company co-chairman, have committed $100 million of their own funds to help investment group ASAC II purchase another 172 million shares for about $2.34 billion in cash.
Vivendi's stake in the game producer will be reduced to 12 percent, the Times said.
"The commitment that we have from Vivendi to continue as a shareholder shows their enthusiasm for the business. My investment shows I'm committed and enthusiastic about the prospects of the business," Kotick said in an interview.