Spiritual successor to Halo most expensive game produced yet
Reuters reports that Activision Blizzard will drop a total of $500 million on the development of Bungie's upcoming game Destiny. The investment makes the game the most expensive video game production to date, surpassing previous cost leaders such as Grand Theft Auto V and Star Wars: Knights of The Old Republic. Activision CEO Bobby Kotick announced the record-setting investment at the Milken Institute conference in Los Angeles at the end of April.
Deal worth well over $8 billion dollars put on hold by shareholder suit
The Delaware Chancery court has issued a ruling on a lawsuit, putting the pending sale of Vivendi's portion of Activision Blizzard back to its founders on hold. Activision is seeking to buy back 429 million shares of itself from Vivendi for $5.83 billion, with chief executive Bobby Kotick and chairman Brian Kelley will each purchase about 172 million shares of Activision stock.
Move will ditch French publisher, leave majority of shares in public hands
Videogame developer and publisher Activision Blizzard announced yesterday that is has reached an agreement for a total of $8.17 billion with French media conglomerate Vivendi, effectively buying itself out of its partnership. Activision Blizzard is contributing $5.83 billion at $13.60 per share, with Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelley purchasing 172 million company shares for $2.34 billion. Following the completion of the transaction, Activision Blizzard will be an independent company again, with the majority of its shares owned by the public.