Activision Shareholders Approve $69B Microsoft Merger

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Activision Shareholders Approve $69B Microsoft Merger
Courtesy of Activision Blizzard.

Activision Blizzard shareholders on Thursday voted overwhelmingly in favor of approving the video game developer’s $69 billion merger with Microsoft, paving the way for the gaming industry’s largest-ever acquisition.


More than 98% of Activision shareholders voted in favor of the deal at a special meeting, following the recommendation of the Santa Monica-based company’s board of directors. While the merger is expected to close by June 2023, the companies still need regulatory approval in the regions they do business in, including the U.S., the U.K., the European Union and China, Activision noted in a recent SEC filing.

Microsoft announced its plans to acquire the “Call of Duty” publisher for $95 per share in January—a premium on Activision’s current stock price, which closed Thursday’s trading at $76.70 per share.

“Today’s overwhelmingly supportive vote by our stockholders confirms our shared belief that, combined with Microsoft, we will be even better positioned to create great value for our players, even greater opportunities for our employees, and to continue our focus on becoming an inspiring example of a welcoming, respectful, and inclusive workplace,” Activision CEO Bobby Kotick said in a press release.

Despite Thursday’s vote, antitrust regulators at the Federal Trade Commission or the Department of Justice could still look to block the deal for fears that it would have an anticompetitive effect on the gaming industry. Activision is already facing regulatory scrutiny over alleged sexual harassment and discrimination in its workplace—issues that have prompted several current and former employees to file lawsuits against the company.

In its first-quarter earnings report this week, Activision reported a year-on-year slump in both sales and profits, citing lower-than-expected demand for its latest “Call of Duty: Vanguard” title.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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Los Angeles, California
Image by Michael Bogner/ Shutterstock

We're looking for Southern California startups that have a product on the market and have raised less than $1 million in funding to pitch at dot.LA's Summit on Thursday, October 20th during the opening reception at the Petersen Museum.

Submissions will be evaluated on a rolling basis. Judges will be announced at a later time. Complete your submission here by Friday, October 7th.

Interested in attending our Summit? Register here!

dot.LA is proud to announce the 3rd annual dot.LA Summit coming up on October 20th & 21st at the Petersen Museum.

Join hundreds of top founders, investors, and operators for the largest celebration of the LA tech and startup ecosystem. The jam-packed program includes the dot.LA Awards, pitch competition, panels, workshops and more.

Please contact us with any questions.

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