Shareholders approve Activision Vivendi union
Investors in Guitar Hero publisher sign off on all involved proposals relating to Vivendi Games merger by margin of 92 percent or more.
As promised during the second week of June, Activision held a shareholder's meeting to vote on the proposed merger with Vivendi Games. And as expected, investors in the Santa Monica-based publisher approved by an overwhelming majority the $18.9 billion deal that first surfaced in December. In a statement, Activision noted that "all of the proposals required to effect the transaction received more than 92 percent of the shares voted."
Following the terms of the deal, Vivendi Games--the interactive games division of France-based media conglomerate Vivendi SA and parent company of Blizzard Entertainment and Sierra Entertainment--will become a wholly owned subsidiary of Activision. As previously noted, the merger is expected to wrap on or about July 9, at which point the company will be rebranded Activision Blizzard.
In addition to converting Vivendi Games stock into 295.3 million shares of newly issued Activision stock, Vivendi SA will purchase an additional 62.9 million shares at the agreed-upon price of $27.50 apiece. That stock buy will give Vivendi SA a controlling stake in Activision Blizzard.
Though Vivendi SA will maintain a controlling stake, the publishers said in December that current Activision CEO Robert Kotick will maintain his position as group CEO and president, and Vivendi Games chief Bruce Hack will slot in as chief corporate officer and vice chairman. Mike Griffith will reprise his position as president and CEO of Activision Publishing, and the Guitar Hero publisher's chief financial officer Thomas Tippl will also transition into a similar role at the new company. Jean-Francois Grollemund, Vivendi Games' CFO, will become Activision Blizzard's chief accounting officer.
Hot Stories
Newsmakers
-
Biden: No legal problem with taxing violent games
United States Vice President Joe Biden believes there is no legal restriction on ability to tax violent media. Full Story
- Posted May 13, 2013 12:50 pm PT
-
Just Cause dev promises 'holy f**king sh**' moments in future games
Avalanche Studios co-founder says developer's ambition is for action, not moments that make players cry; steampunk-style game on hold. Full Story
- Posted May 15, 2013 6:33 am PT
Featured Stories
-
Bungie shoots down Destiny for PS Vita rumor
Developer confirms image suggesting version of upcoming shared-world shooter in development for Sony's latest portable is a fake. Full Story
- Posted May 16, 2013 5:08 am PT
-
Ubisoft planning to release games more frequently
Assassin's Creed and Far Cry publisher says its network of 26 studios and over 7,000 developers will allow company to ship major franchises more regularly. Full Story
- Posted May 16, 2013 4:42 am PT
-
Metro: Last Light dev responds to workplace conditions claims
4A Games creative director Andrew Prokhorov thanks Jason Rubin for telling the studio's story, but says, "We deserve the ratings we get." Full Story
- Posted May 16, 2013 12:44 pm PT
-
EA opens DICE LA to make Star Wars games
DICE head would also like to poach top talent from rivals Infinity Ward and Treyarch. Full Story
- Posted May 15, 2013 3:28 am PT
-
EA dropping Online Passes - Report
Future EA games won't require Online Passes; the service is being scrapped after tepid player response. Full Story
- Posted May 15, 2013 8:28 pm PT




