In a twist of fate that will confuse and enrage those that rail against big publishers crushing the indie scene, Activision Blizzard is now an independent publisher. One of the largest publishing entities on the planet, Activision began a stock buyback from parent company Vivendi back in July. That deal’s now complete and for a small self-investment of $8.2 billion the company is free.
The deal was temporarily put on when two shareholders sued the companies. However, the courts ruled in Activision CEO Bobby Kotick’s favour and the deal went ahead as planned.
Activision Blizzard bought shares worth $5.83 billion and Kotick, along with his chairman, Brian Kelly, bought an additional set worth $2.34 billion.
“With the completion of this transaction we open a new chapter in the history of Activision Blizzard,” Mr. Kotick said. “We expect immediate shareholder benefits in the form of earnings-per-share accretion and strategic and operational independence. Our audiences and our incredibly talented employees around the world will benefit from a focused commitment to the creation of great games. Our shareholders and debt holders will have the benefit of an energized, invested, deeply committed management team focused on generating long-term, superior returns and effectively managing our capital structure.”