Activision Blizzard to Get $275 Million in Settlement

By Tess Stynes 

Activision Blizzard Inc. said it would receive a settlement of $275 million from a number of insurance companies and defendants in a legal dispute stemming from the videogame maker's October 2013 repurchase of 88% of Vivendi SA's majority stake in the company.

Activision, best known for its "Call of Duty" war-simulation games and "World of Warcraft" online fantasy franchise, said Wednesday that it thinks the settlement is in the best interest of all stakeholders. The settlement acknowledges no wrongdoing by any party.

The settlement includes an agreement to add two unaffiliated directors to Activision's board, an adjustment of voting rights and a release of all claims.

In July 2013, Activision reached an agreement to buy back nearly $6 billion worth of Vivendi's holding in the company, ending months of negotiations over the fate of the videogame giant. The French conglomerate took its controlling stake in 2008 as Activision merged with Vivendi's games unit, which at the time included Blizzard Entertainment.

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