Activision Blizzard separation from Vivendi blocked by court order

activision blizzard separation from vivendi blocked by court order logo

Activision Blizzard’s separation from parent company Vivendi is now in danger after the Delaware Chancery Court called for a time out on the process, the company confirms. The move is connected to the ongoing Hayes v. Activision Blizzard Inc. lawsuit, which was filed several months after the buyout plans were announced in July 2013. This doesn’t mean that the buyout won’t happen, but either the injunction will need to be modified on appeal or the deal will need to be approved in a vote of non-Vivendi shareholders before it can be pushed through.

Shareholder Douglas Hayes moved to halt Activision Blizzard’s proposed stock buyout in mid-September 2013 with a lawsuit claiming that the company failed to seek approval for the deal from shareholders. The suit also targets Activision CEO Bobby Kotick and co-chairman Brian Kelly, both of whom are part of an investment group participating in the buyout. Under the terms of the July deal, Activision Blizzard was to buy back 429 million shares of stock from its former parent for $5.83 billion while the Kotick/Kelly group (which also includes Chinese investment firm Tencent Holdings) would buy another 172 million shares for $2.34 billion. Hayes’ lawsuit alleges that Kotick and Kelly, both of whom stand to maintain their leadership roles at the independent publisher, would have been “unjustly enriched through the private sale.”

In layman’s terms, Hayes is getting exactly what he wanted. The lawsuit sought an injunction so that non-Vivendi shareholders would have an opportunity to vote on the proposed buyout, and that is what’s happening. Activision Blizzard, for its part, confirms that it “remains committed to the transaction” and is right now “exploring the steps it will take to complete the transaction as expeditiously as possible.” 

For more on the terms of the deal as it was originally announced and hefty offering of analysis, take a look at our original report on the news.


Dataminers discover SNES games, more emulators for Nintendo Switch Online

Nintendo Switch Online may soon launch SNES games and more emulators, according to data miners. The list of hidden SNES titles include Breath of Fire 2 and Star Fox 2, while the other emulators may be the Nintendo 64 and Nintendo GameCube.

‘RollerCoaster Tycoon 2’ ride takes 12 years to complete

A RollerCoaster Tycoon 2 player has constructed a coaster in the game that will take more than 12 years to complete from beginning to end, and is actually a tiny ride taking up a small portion of the landscape.

‘Battlefield V’ adds Squad Conquest mode in ‘Lightning Strikes’ update

Electronic Arts and DICE have detailed what is included in the Battlefield V update Lightning Strikes. The update includes access to the mode Squad Conquest through the end of January.

Here's everything you need to know to trade in 'Pokémon Go'

After literally years of waiting, Pokémon Go finally gives trainers the option to trade Pokémon with others. It's not easy, though, and the cost is quite high if you try trading with strangers.

You're never too broke to enjoy the best free-to-play games

Believe it or not, free-to-play games have evolved into engaging, enjoyable experiences. Here are a few of our favorites that you can play right now, including Warframe and the perennially-popular League of Legends.

‘Rocket League’ is the latest game to get full cross-platform play

Psyonix has announced that Rocket League now supports full cross-platform play across PlayStation 4, Xbox One, Nintendo Switch, and PC, joining Fortnite as the only games to do so.
Product Review

'New Super Mario Bros. U Deluxe' is 2D platforming wizardry

New Super Mario Bros. U Deluxe is the latest Wii U game to come back from the dead on Switch. And wow, it’s much better than we remembered.

Here's what you need to know about 'World of Warcraft: Battle for Azeroth'

World of Warcraft: Battle for Azeroth is the latest expansion for the now 14-year-old MMORPG. It goes back to the roots of the Alliance vs. Horde conflict. Here's what you need to know.
Virtual Reality

Think virtual reality is just for games? These awesome apps will change your mind

Virtual reality isn't all about gaming. Swim with turtles, paint in 3D, and immerse yourself in some unique experiences the platform has to offer with our curated list of the best VR apps.

Latest ‘Fortnite’ update channels Halo with a scoped revolver

The latest update for Fortnite, update 7.20, is now available, and it brings a new Scoped Revolver weapon to the game alongside the returning Glider item and a limited-time Snipers-only mode.

‘Call of Duty: Black Ops 4’ will make Blackout mode free to play this week

Treyarch and Activision are offering Call of Duty: Black Ops 4's Blackout mode as a free trial download for a limited time. The mode will be available from January 17 through January 24.

Break out the Wii: ‘Just Dance’ movie reportedly in the works

Sony's Screen Gems has reportedly acquired the film rights to the Just Dance video game series from Ubisoft, which previously helped bring the game Assassin's Creed to the big screen in 2016.

‘Fortnite’ security flaw let hackers spy on players through microphones

A security vulnerability found in Fortnite allowed hackers to gain access to other players' accounts, potentially letting them spy on conversations using the in-game microphone. It has been addressed.

Microsoft CEO says Project xCloud is the ‘Netflix for games’

Microsoft CEO Satya Nadella referred to the company's Project xCloud game streaming service as "Netflix for games." The service will let users play Xbox and PC games on a variety of devices.