Gaming Company Worth $18.8 Billion?
Online gaming should win one of the sashes for “most likely to succeed” this year for all of the steady growth that market has had. Today, that industry as a whole just stepped up their game, so to speak.
Activision and Blizzard, the companies behind the popular Call of Duty and World of Warcraft have announced that they are merging in a deal that will create “the world’s most profitable games business” according to The BBC News. This hybrid company would be worth an estimated $18.8 billion.
Activision is also responsible for the console games Guitar Hero and the Tony Hawk series.
Currently, 9 million people pay monthly subscriptions to play World of Warcraft. Blizzard is currently owned by the French media group Vivendi. To begin, Activision will be investing $1 billion and Blizzard will put up $2 billion for the new company.
The new Activision Blizzard will be run by Activision’s current CEO Bobby Kotick.
Vivendi’s CEO Jean-Bernard Levy was quoted to say “This alliance is a major strategic step for Vivendi and is another illustration of our drive to extend our presence in the entertainment sector. By combining Vivendi’s games business with Activision, we are creating a worldwide leader in a high-growth industry.”
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