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Destiny
I had written about how bullish I was on ATVI and then bam, out
of the blue comes this notice after hours sending the stock
tumbling.
Well, how about that timing. ATVI down 7.5% after hours on news
that they're splitting from Bungie, and Bungie is going to develop
and publish from now on. Sounds like it will mean a hit to the not
yet given FY19 guidance. Crap!
On January 10, 2019, Activision
Publishing, Inc., a wholly-owned subsidiary of Activision
Blizzard, Inc. (the “Company”), and
Bungie, Inc. (“Bungie”) announced plans for Bungie
to assume full publishing rights and responsibilities for the
Destiny franchise. Going forward, Bungie will own and develop the
franchise. As a result, the Company does not
expect to recognize material revenue, operating income or operating
loss from the Destiny franchise in 2019.
sec.gov/Ar...8k.htm
bungie.net/en.../47569
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yea I just saw it. I now wonder if part of the reason for the
large drop recently were the folks who knew about negotiations.
Probably. lol.
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Author:
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breinejm
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Subject:
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News
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Sentiment:
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Neutral
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Date:
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01/10/19 at 3:58 PM CST
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I was wondering that too.
I'm very curious what ATVI gets out of this, because that 8K
suggested nothing. So unless they were forecasting the Destiny
franchise to lose money from here on out, I can't believe Kotick
would just let Bungie walk away without even getting royalties or
whatever.
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Author:
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Jester
Debunker
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Subject:
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News
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Sentiment:
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Neutral
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Date:
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01/10/19 at 4:27 PM CST
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0
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