Reuters - Video

EDITION: U.S. | U.K. | IN

Finance Videos

Vivendi sells bulk of Activision stake

Friday, Jul 26, 2013 - 02:05

July 26 - French conglomerate Vivendi is selling most of its stake in Activision Blizzard Inc, best known for its video games - Call of Duty and World of Warcraft. Vivendi says it sees its future in content being centred on its music and pay TV businesses, as Joanne Nicholson reports.

▲ Hide Transcript

View Transcript

Blockbuster video games played the world over - the likes of World of Warcraft and Call of Duty are worth billions. Now French media giant, Vivendi, is selling the bulk of its stake in the creator of those games, Activision Blizzard. It's letting go of an 85 per cent stake for $8.2 billion - at $13.60 per share that's a ten per cent dicount on Thursday's closing price. It's the second big announcement from the company in recent days - earlier in the week Vivendi said it was in talks to sell its controlling stake in Maroc Telecom. Pierre Briancon is from Reuters Breaking Views (SOUNDBITE) (English) PIERRE BRIANÇON, REUTERS BREAKINGVIEWS EUROPEAN EDITOR, SAYING: "What's really happening at the company is a changing of the guard. People on the board and on the management side are like the space cowboys. Old guys from the French corporate world who turned the company around, cleaned up its finances, changed the strategy when it appeared the telecom thing was not working. They were too small a player in a fast restructuring telecom market." The deal shows Vivendi's long-awaited overhaul is gathering pace 18 months after Chairman Jean-Rene Fourtou pushed to sort out the company's different business interests. It had suffered a long share price slump. Vivendi's move has surprised some because the company has talked up its media assets as the firm's future. But it says it will use the proceeds from the sale to pay off some of its debts. It will keep a 12 percent stake so will continue to benefit from the growth of Activision Blizzard's business. Vivendi now wants to focus on its Universal Music group business and its pay television business - Canal Plus. The Activision deal is the fruit of months of talks between the parent company and the management of the video games maker led by long-time boss Bobby Kotick. Kotick's aim was always to buy back the company he'd built up since 1991.

Vivendi sells bulk of Activision stake

Friday, Jul 26, 2013 - 02:05

Top News »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)