Report: Activision Blizzard Majority Stakeholder Denied €1 Billion Credit Line

December 13, 2011 -

Bloomberg is reporting that Activision-Blizzard's top stakeholder Vivendi SA has failed to obtain a new line of credit worth an estimated €1 billion. According to multiple sources with "knowledge of the negotiations," the credit deal fell through mostly because of wary investors who are dealing with the mounting pressure from the European debt crisis. Vivendi SA was asked to pay an interest rate of 90 basis points above the Euro interbank offered rate, but the company held firm with its offer of 75 basis points.

According to data compiled by Bloomberg, the average interest rate for French investment-grade companies increased from 48.8 basis points to 60 in the first eight months of 2011. Given the financial atmosphere in the region, this is not surprising at all. Vivendi is reportedly looking for a better line of credit following an agreement it signed last month to pay £1.2 billion for the recorded assets of the EMI Group.

In November, Vivendi sold 35 million shares in Activision-Blizzard for a reported $425 million. At the time the company said that the decision was a "tactical disposal with regards to our overall capital structure." The company claims that it is committed to remaining the majority shareholder in the publisher.

Source: Bloomberg by way of GI.biz


 
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Papa MidnightThe Verge says the sequel to Flappy Bird is nearly impossible. http://www.theverge.com/2014/8/21/6053297/swing-copters-flappy-bird-sequel08/21/2014 - 12:22pm
SleakerPC-Gamer wrote an article on what's going on with the Minecraft stuff: http://www.pcgamer.com/2014/08/21/minecraft-bukkit-team-lead-tries-to-end-development-but-mojang-steps-in/08/21/2014 - 11:55am
SleakerEVE had a high-profile ban today: http://massively.joystiq.com/2014/08/20/eve-online-lottery-site-somer-blink-shutting-down/#continued08/21/2014 - 10:26am
SleakerBut where have all the Ethics gone?08/21/2014 - 9:08am
Sleaker@EZK - one of the bigger things is that since Mojang has owned Bukkit for 2 years now, people contributing to the project have basically been doing work for them pro-bono. On top of never formalizing support. They hid the fact probably to prevent support08/21/2014 - 9:07am
SleakerIf you've played on a server with mods/plugins, you've almost for sure played on a Bukkit-based server.08/21/2014 - 8:56am
SleakerHere's Bukkit's explanation attempt at shutting down due to EULA changes: http://forums.bukkit.org/threads/bukkit-its-time-to-say.305106/08/21/2014 - 8:55am
SleakerEZK - it's the largest server mod for MC, in actuality without it minecraft for sure would not have been as popular (#1 game now).08/21/2014 - 8:54am
SleakerTo the point that it seems they have completely lost what it means to be for-community, and having transparency. Along with dumping restrictive EULA's onto people.08/21/2014 - 8:53am
E. Zachary KnightWhat is Bukkit and why should I care?08/21/2014 - 8:53am
SleakerMinecraft community exploded again today. Apparently Mojang owns all of Bukkit, and never put out a statement saying as such 2 years ago when they acquired them. I have to say, their transition from indie has been rough.08/21/2014 - 8:52am
james_fudgeThere aren't many left in America08/21/2014 - 1:50am
MechaTama31I sure have. Dorky's barcade in Tacoma, WA.08/20/2014 - 5:56pm
Matthew WilsonI have not been to a arcade in years. I know arcades are still big in japan.08/20/2014 - 5:38pm
Sleaker@AE - Ah no it's called GroundKontrol - I was just referring to it as a Bar-Arcade.08/20/2014 - 4:39pm
Andrew EisenStill looking for confirmation that High Moon Studios (dev behind the PS3/360 versions) isn't working on it.08/20/2014 - 4:38pm
ZenGotcha.08/20/2014 - 4:37pm
Andrew EisenI already updated the story with it!08/20/2014 - 4:36pm
Zenhttp://www.gonintendo.com/s/235574-treyarch-isn-t-working-call-of-duty-advanced-warfare-for-wii-u-either08/20/2014 - 4:36pm
ZenLet me send the link for the Tweet as well...they state Treyarch is not working on it. Grabbing it now.08/20/2014 - 4:34pm
 

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