Is Vivendi Mounting Up For An Activision Blizzard Cash Grab?
French multinational mass media company Vivendi has been trying to sell it’s 61% share of gaming goliath Activision Blizzard to no avail for some time now. Now the multimedia giant may be in a position to siphon a considerable amount of funds from the U.S. based game publisher. A longstanding system has held Vivendi at bay, it’s been required for the shareholder to receive approval from Activision’s independent directors to request any dividend payment that would skyrocket the division’s net debt above the $400 million mark. That requirement expires Tuesday. Activision Blizzard have been in discussions with Vivendi over a possible tender offer for part of it’s holding, this offer would be funded by Activision Blizzards own profits.
Vivendi has been trying to huck it’s share of Activision Blizzard since it’s share price started sliding. The major hurdle when trying to sell the most profitable publisher in the gaming industry is inherent – who has the money to purchase them outright? To be fair, Vivendi is simply looking for some dividends on it’s investment. Rumors suggest that Vivendi isn’t happy with Activision Blizzard’s performance as a publisher even though Call of Duty is continually breaking it’s own record for the largest media launch ever.
We’ll update if more information becomes available.
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