Current Ownership Structure of Activision Blizzard
As of the latest public filings, Activision Blizzard is a wholly owned subsidiary of Microsoft Corporation following the completion of its acquisition in October 2023. Microsoft now controls all shares previously held by public shareholders, and the company operates under the Microsoft Gaming division. The transaction was valued at approximately 69 billion dollars, making it one of the largest acquisitions in the history of the gaming industry. For a detailed breakdown of the deal structure, see the official Microsoft press release here.
The ownership transition required regulatory approvals from multiple jurisdictions, including the United States, the United Kingdom, and the European Union. Microsoft secured final clearance from the UK Competition and Markets Authority in September 2023 after offering concessions to address competition concerns. The company delisted Activision Blizzard shares from the Nasdaq stock exchange upon closing the deal. This consolidated ownership means Activision Blizzard no longer files standalone public financial reports as an independent entity.
Microsoft Corporation as the Controlling Entity
Microsoft Corporation, headquartered in Redmond, Washington, is the direct parent company and sole owner of Activision Blizzard. The gaming division is now led by Phil Spencer, CEO of Microsoft Gaming, who oversees all Xbox, Bethesda, and Activision Blizzard studios. Microsoft's consolidated revenue reports include Activision Blizzard's financial results, with the acquisition contributing to significant growth in the company's gaming segment. Investors can review Microsoft's latest annual report and 10-K filing on the SEC EDGAR database.
Key Shareholders Before the Acquisition
Prior to the Microsoft acquisition, the largest public shareholders included institutional investment firms such as Vanguard Group, BlackRock, and State Street Global Advisors. These asset managers held significant positions through index funds and actively managed portfolios. Individual retail investors also held shares through brokerage accounts on major exchanges. The complete list of former shareholders is documented in Activision Blizzard's final standalone proxy statement filed with the SEC.
Regulatory and Financial Context of the Ownership Change
The acquisition faced a high-profile antitrust challenge from the United States Federal Trade Commission, which filed a lawsuit to block the deal in December 2022. Microsoft ultimately reached a settlement with the FTC in July 2023, agreeing to divest cloud gaming rights to Ubisoft Entertainment. The European Commission and the UK CMA also conducted thorough reviews before granting approval. These regulatory outcomes directly shaped the final ownership structure and operational independence of Activision Blizzard under Microsoft.
Activision Blizzard's previous financial performance showed strong revenue growth, with the company reporting 8.09 billion dollars in net revenue for the fiscal year 2022. The acquisition integrated these assets into Microsoft's broader gaming strategy, which includes Xbox Game Pass and cloud gaming infrastructure. Public data on the company's historical financials remains available through archived SEC filings and earnings reports. For additional context on the regulatory process, the Federal Trade Commission's official case page provides detailed documents here.