will cut its stake in
, the video game company behind “World of Warcraft” and “
,” in a deal worth $850 million, the media company said Thursday.
The French company’s decision to divest itself of 41.5 million shares in Activision comes as it is selling non-core assets, such as its telecom holdings, in order to concentrate on its media business. Vivendi is also undergoing a leadership shift, as Vincent Bollor (c) takes over as the company’s chairman next month from Jean-Ren (c) Fourtou.
In 2013, Vivendi sold the bulk of its position in Activision back to the company for $8.2 billion.
“This transaction is part of Vivendi’s intention to totally exit the share capital of Activision Blizzard,” the company said in a statement.
It did not say who was buying its shares in the game-maker. Following Thursday’s sale, Vivendi will continue to own 41.5 million shares in Activision, or about a 5.8 percent stake.
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