Sections
Log in
Top News
U.S. News World News Featured Voices
Odd News
Entertainment
Movies Music TV
Sports
Soccer NFL NBA MLB NHL Golf Horse Racing Tennis Col. Football Col. Basketball
Photos
News Entertainment Sports Features Archives
More...
Defense Featured Science Health Archive Almanac
About Feedback
About Feedback
Search
Trending
9/11 fund
Payless
Theodore McCarrick
Jussie Smollett
Illinois shooting
Iran attack
Laurie Hernandez
'Alexa & Katie'
Nigeria election
Colin Kaepernick
Stephen Curry
YNW Melly
Business News
July 26, 2013 / 9:39 AM

Game maker Activision Blizzard to break away from Vivendi

SANTA MONICA, Calif., July 26 (UPI) -- California video game publisher Activision Blizzard said it would transform itself into an independent, publicly owned company.

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.

  • Topics
  • Brian Kelly
Follow us on Facebook, Twitter and Instagram for more UPI news and photos.

Trending Stories

Tecolote awarded $38.8M for Space and Missile Systems Center operations
Saab to supply U.S. Army with Carl-Gustaf M4 weapon system
PAE awarded $27.6M contract for Afghanistan defense, security support
Bell Boeing signs $10.7M contract for V-22 Osprey radar upgrades
Navy to commission combat ship Tulsa on Saturday in San Francisco

Photo Gallery

 
Lunar New Year celebrations in Beijing

Latest News

UPI Almanac for Monday, Feb. 18, 2019
Famous birthdays for Feb. 18: Dr. Dre, Toni Morrison
On This Day: Dozens die in Kiev, Ukraine, protests
Fashion icon Lee Radziwill dies at 85
Stephen Curry ends All-Star Game with reverse slam off bounce alley-oop
 
Back to Article
/
Back to top
About UPI Contact Feedback Advertisements Submit News Tips
Copyright © 2019 United Press International, Inc. All Rights Reserved.
Terms of UsePrivacy Policy