Beleaguered Activision Blizzard CEO To Snatch $390M Windfall
Activision Blizzard's embattled CEO, Bobby Kotick, has spent the past several months defending his handling of sexual harassment and discrimination claims and resisting pressure from his own staff for him to resign.
Photo Insert: Activision Blizzard CEO Bobby Kotick
Now, under the terms of Microsoft’s nearly $70 billion acquisition of the video game maker, Kotick stands to walk away with a $390 million windfall, Allison Morrow reported for CNN Business.
Microsoft’s $68.7 billion deal to buy Activision Blizzard is a blockbuster bid to transform the tech giant’s present and its future. Once completed, it would be Microsoft’s largest-ever deal and the biggest all-cash acquisition in history. Microsoft actually seized on Activision’s troubles.
Last summer, Activision was dogged by accusations that senior executives ignored sexual harassment and discrimination in its workplace, a controversy that eventually engulfed its CEO, Bobby Kotick.
The company faced pressure from all corners — including from Microsoft, which said its gaming division was reviewing its ties to Activision. But the tech giant kept in regular contact with Kotick, the New York Times also reported.
In December, with Activision’s stock down sharply, Microsoft reached out to Kotick with a takeover bid. Kotick dismissed the offer, but — eager to steer his beleaguered company to a safe home — told the software giant to come back with a better offer. Microsoft did, beginning a weeks-long sprint to hammer out an agreement.