Xbox boss Phil Spencer has explained the delay in getting Activision Blizzard's back catalogue added to Xbox Game Pass, and blamed the hold-up on the lengthy and difficult process of sealing the deal.
13.10.2023 - 15:11 / ign.com / Phil Spencer / Bobby Kotick
Following confirmation of Microsoft’s buyout of Activision Blizzard, controversial CEO Bobby Kotick has confirmed he will remain boss of the Call of Duty maker only until the end of 2023.
In an email to all Activision Blizzard employees, Kotick said Xbox boss Phil Spencer had asked him to stick around as CEO to the end of this year, suggesting an exit in 2024.
“I have long said that I am fully committed to helping with the transition,” Kotick said. “Phil has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players.”
Kotick stands to make hundreds of millions of dollars from Microsoft's eye-watering $69 billion buyout of Activision Blizzard. Last year, Bloomberg reported the CEO could see $520 million from the sale. In a securities filing published in 2022, Activision Blizzard said Kotick would receive $14.4 million in severance if he was terminated or left under various circumstances within a year of a change of control at the company. At the time, Kotick owned 4.3 million shares and had the right to acquire another 2.2 million through the exercise of options, which could potentially be worth $520 million in total at the $95 per-share price Microsoft offered.
Kotick leaves Activision after 30 years as CEO and with clear financial success under his tenure, but his time at the top has been mired in controversy. Employees have issued a number of complaints about sexism, a toxic work culture, and even walked out over reports Kotick failed to make the company’s board aware of allegations of rape and other serious misconduct.
California’s Department of Fair Employment and Housing sued Activision Blizzard in July 2021, alleging a retaliatory “frat boy” culture. And just last week, Activision Blizzard was hit with another National Labor Relations Board complaint by the Communication Workers of America union.
Image credit: David Paul Morris/Bloomberg via Getty Images
Wesley is the UK News Editor for IGN. Find him on Twitter at @wyp100. You can reach Wesley at [email protected] or confidentially at [email protected].
Xbox boss Phil Spencer has explained the delay in getting Activision Blizzard's back catalogue added to Xbox Game Pass, and blamed the hold-up on the lengthy and difficult process of sealing the deal.
US tech giant Microsoft has completed its acquisition of games giant Activision Blizzard.
Seamus Blackley, who spearheaded the development of the original Xbox and co-designed legendary PC games including System Shock, Flight Unlimited, and Jurassic Park Trespasser, says that the sale of Activision Blizzard to Microsoft will “torment” outgoing CEO Bobby Kotick. Explaining how he initially helped pitch Guitar Hero to Kotick, Blackley also describes how the Activision boss reportedly turned the idea down before purchasing the series years later, adding it to Activision’s substantial gaming catalog, which also includes Call of Duty Modern Warfare 3 and Diablo 4.
Microsoft has completed their vast $68.7 billion acquisition of Activision Blizzard, less than half a day after the UK Competition Markets Authority (CMA) gave their approval to a revised package of concessions.
After two years co-piloting the biggest acquisition in video game history past an onslaught of challenges, Xbox CEO Phil Spencer now moves on to his next quest: making Microsoft's takeover of Activision Blizzard worth the hassle. Microsoft, which owns the Xbox gaming system, closed its $69 billion deal to buy game-maker Activision Blizzard on Friday after fending off global opposition from antitrust regulators and rivals.
Xbox maker Microsoft closed its $69 billion (nearly Rs. 5,75,620 crore) deal for Activision Blizzard on Friday, swelling its heft in the video-gaming market with best-selling titles including Call of Duty to better compete with industry leader Sony.
Update: Well, there we go. Microsoft has wasted no time, and has officially concluded the transaction to acquire Activision Blizzard King. The announcement comes via Xbox Wire, where Phil Spencer writes about this historic merger. Bobby Kotick, CEO of Activision Blizzard King, will remain in place for at least the rest of 2023.
Seamus Blackley, the co-creator of the original Xbox, has taken to Twitter to mock Activision CEO Bobby Kotick.
Microsoft’s acquisition of Activision Blizzard is finally complete, with the $68.7 billion deal gaining approval from the UK’s Competition and Markets Authority (CMA). In a new email to employees, CEO Bobby Kotick has confirmed that he will stay on until the end of 2023 to help with the transition.
Microsoft has beencleared to acquire Activision Blizzard by UK regulators, removing the last hurdle standing in the way of closing the deal.
Microsoft is apparently not spooked by closing the deal on the unlucky day of Friday the 13th.
Following the confirmation earlier today (October 13) that Microsoft’s acquisition of Activision Blizzard has been closed, it’s been announced that Activision Blizzard CEO Bobby Kotick will be staying in his role until the end of the year, but it's implied that he'll be stepping down in 2024.