Activision majority stakeholder Vivendi wants to squeeze cash from the publisher

Telecommunications and multimedia conglomerate Vivendi wants to get its hands on the cash that publisher Activision is hording. Vivendi owns a 61 percent stake in Activision, and its slipping profits on the telecom side of its business and mounting debt are forcing it to look for cash to address its immediate needs.

That’s where Activision comes in. Vivendi has long been looking to force Activision to offer a special one-time dividend to its investors. As the majority stakeholder, that means Vivendi would get the bulk of the cash in any payout. Only Vivendi is running into trouble with Activision’s board despite owning six of the 11 seats.