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Activision Blizzard Buys Back Independence from Vivendi

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Posted on July 26, 2013 AT 02:16am

Activision Blizzard has bought itself back from French media giant Vivendi, regaining its independence.

Activision and a group of investors announced the $8 billion deal today, stating that it will result in the majority of the company’s shares being owned by public investors. Vivendi will retain 83 million shares as part of the deal giving it a 12 percent stake.

CEO Bobby Kotick and co-chairman Brian Kelly are in charge of a separate investment group which purchased 172 million shares, while Activision Blizzard as a whole bought approximately 429 million shares.

“The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability,” Kotick said of the deal.

Matthew Bennett, Associate Editor
Matthew Bennett finally got his big break with EGM three years ago, following years of volunteer work for various sites. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Follow him on Twitter @mattyjb89. Meet the rest of the crew.

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