Activision Blizzard: Before selling Activision Blizzard to Microsoft in a $70 billion deal (the biggest in the video game industry’s history), the CEO of franchisees like Crash tried a deal with Meta, Facebook’s holding company.
The information was released by Bloomberg yesterday (18). According to the article, Phil Spencer, head of the Xbox division, approached CEO Bobby Kotick in 2020 to try to sew a negotiation. The conversations did not go forward, however.
In November of last year, the Wall Street Journal (WSJ) published a story saying that Kotick was aware of the numerous abuses that were going on inside the company and that he did little to solve the problem. After that, Activision Blizzard shares dropped 15%.
With the games company’s shares plummeting, Kotick looked for companies that might be interested in acquiring the brand. One of the “applicants” was Meta, the holding company that owns Facebook.
Bloomberg revealed, however, that the business with Meta failed and that because of that Kotick was forced to talk to Spencer again about a possible deal. Both men stitched together the details of the deal in late 2021, including during the year-end holiday period, to announce the deal yesterday.
To give a definitive answer to the market and show that Activision Blizzard will no longer give room for toxic behavior, Spencer must even remove Kotick from the position of CEO after the purchase is approved by Organs regulatory bodies (which should only happen in June of 2023).