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Speaker 1: It's official.

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Speaker 2: Microsoft's completed it's sixty nine billion dollar purchase of Activision

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Speaker 2: Blizzard after nearly two years fighting with global regulators who

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Speaker 2: threatened to halt and indeed stop the deal. This is

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Speaker 2: the biggest ever acquisition in the video games industry. I'm

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Speaker 2: delighted to bring in Activision Blizzard CEO Bobby Kotik. Bobby,

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Speaker 2: good afternoon, and thank you for your time joining us

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Speaker 2: from New York City.

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Speaker 1: Thanks for having me ed, Bobby.

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Speaker 2: You and I have been talking about the video games industry.

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Speaker 2: We've been talking about cloud, but the origin of this

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Speaker 2: deal was mobile gaming, and I just ask you to

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Speaker 2: reflect if now that it's all said and done, Microsoft

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Speaker 2: will be able to make some progress in mobile gaming.

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Speaker 3: Well, look, I think there were a lot of great

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Speaker 3: reasons for this merger.

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Speaker 1: Mobile is an important part.

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Speaker 3: I think one of the things that we've all benefited

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Speaker 3: from is as smartphones became the dominant form of delivery

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Speaker 3: devices for video games, we started to see the democratization

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Speaker 3: of video games. For most of the thirty some odd

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Speaker 3: years I've been running the company, we made game for

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Speaker 3: consoles and for PCs, and those were really limited to

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Speaker 3: people who are middle class consumers in developed countries, and

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Speaker 3: over the last ten years, what we've seen is the

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Speaker 3: dramatic expansion of games to today we have players over

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Speaker 3: three hundred and fifty million players in one hundred and

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Speaker 3: ninety countries, and so this dramatic transformation that's taken place

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Speaker 3: and building this much larger audience of players is something

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Speaker 3: that I think Microsoft will continue to develop and enhance,

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Speaker 3: and we're really excited about the future of gaming as

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Speaker 3: a result.

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Speaker 2: Bobby, I know that you also engage with the gamers

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Speaker 2: the community. We asked the questions to the community. What

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Speaker 2: would you ask, Bobby Cootech I think the resounding question

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Speaker 2: is what is it that Microsoft could offer activision gamers

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Speaker 2: playing your different titles that you guys couldn't offer on

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Speaker 2: your own if you'd remain a standalone company.

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Speaker 1: Well, I can't say that there's any specific.

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Speaker 3: Thing that Microsoft can will offer that we couldn't. What

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Speaker 3: I would say is what's the most important is access

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Speaker 3: to talent. As the market continues to grow, as you

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Speaker 3: see the intensified competition that's coming from so many companies

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Speaker 3: with aspirations to make and sell video games, one of

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Speaker 3: the things that we were realizing is that access to

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Speaker 3: talent was going to be increasingly more competitive and difficult.

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Speaker 3: And it's the same type of talent, you know, AI

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Speaker 3: and machine learning talent, data analytics, user interface and user

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Speaker 3: experience type talent that is now it's high demand, and

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Speaker 3: I think our hope is that over time we'll be

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Speaker 3: able to attract people from the enterprise side of Microsoft

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Speaker 3: to be excited about working in gaming.

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Speaker 1: But I think on a combined.

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Speaker 3: Basis, it gives us a greater chance to compete against

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Speaker 3: the many, many competitors that are.

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Speaker 1: Out there today.

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Speaker 2: That's the technology side, and to all great technologies, there's

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Speaker 2: a cost. I remember you saying that at times like

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Speaker 2: Activision wasn't looking to sell, it didn't need to. When

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Speaker 2: this deal came together in the outset, was it because

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Speaker 2: the financial position had changed and Activision did need to sell.

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Speaker 3: No, we you know, we merged for the stellar balance

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Speaker 3: sheet and strong financial performance. It really was, you know,

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Speaker 3: our principal responsibility is providing a return to our stakeholders.

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Speaker 3: And when Microsoft approached us, they made an offer that

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Speaker 3: was in the best interest of the shareholders.

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Speaker 1: Ninety eight percent of the shareholders voted for the.

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Speaker 3: Transaction, and so that's you know, that's our principle responsibility

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Speaker 3: as a board and for me as CEO. The exciting

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Speaker 3: thing is that we actually sold to a company that

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Speaker 3: has a history almost as long as hours of making

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Speaker 3: video games. And if you think back to the early

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Speaker 3: years of Flight Simulator, you know, there's a company that

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Speaker 3: has been in the games industry for a long time.

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Speaker 3: They you know, people are passionate about gaming at the company,

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Speaker 3: and so when you think about a perfect home for

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Speaker 3: the next you know, generation of gaming, Microsoft is going

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Speaker 3: to be a fantastic place for our incredibly talented people

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Speaker 3: to have opportunities.

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Speaker 2: Bobby, how did this deal come together? What's the origin story?

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Speaker 3: Well, it came together pretty quickly. Sati and Phil gave

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Speaker 3: me a call and said that they were really excited

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Speaker 3: and enthusiastic about this as an opportunity and is it

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Speaker 3: something that our board would consider, and I of course

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Speaker 3: said yeah, absolutely, and you know, it didn't take very

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Speaker 3: long after that to see the logic of it. You know,

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Speaker 3: it's a it's a perfect combination. And like I said,

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Speaker 3: given the intense competition that you're seeing from you know,

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Speaker 3: every big technology company, not just you know in the

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Speaker 3: US and Europe, but in China and Japan. I think

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Speaker 3: that you know, this gives us on a combined basis,

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Speaker 3: the opportunities to develop Nason franchises, to take advantage of

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Speaker 3: some of the titles in the library that haven't actually

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Speaker 3: been developed.

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Speaker 1: In a long time.

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Speaker 3: You know, right now is a It's a really great

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Speaker 3: moment in gaming. There is enormous innovation taking place. We're

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Speaker 3: about to launch a new Call of Deity game in

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Speaker 3: the next two weeks in a new season of Diablo,

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Speaker 3: and you can actually see the changes and the benefits

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Speaker 3: of new technology in games like Call of Duty. We're

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Speaker 3: seeing an expanded reach of games like Candy.

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Speaker 1: Crush to which now is probably.

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Speaker 3: Something one hundred and thirty million monthly active users. And

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Speaker 3: so this is just an exciting time to be in

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Speaker 3: the gaming business, and an even more exciting time now

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Speaker 3: that we have this transaction completed with Microsoft.

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Speaker 2: Welcome to our global Bloomberg television and radio audiences. We're

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Speaker 2: speaking with Bobby Kotek, Activision CEO. But it was announced

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Speaker 2: Bobby that you will work with Microsoft under Phil Spencer

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Speaker 2: just through to the end of twenty twenty three. This

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Speaker 2: is the biggest deal in video game's history. Activision has

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Speaker 2: more than ten thousand staff. Is that enough time? I

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Speaker 2: guess my question, why not stay on longer? You have

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Speaker 2: run this company for almost three decades.

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Speaker 3: Well, it's probably appropriate for me being sitting here at

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Speaker 3: Bloomberg right now. But Mike Bloomberg is one of the

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Speaker 3: most inspiring philanthropists that I have ever had the pleasure

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Speaker 3: to know. And you know, I just turned sixty last year,

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Speaker 3: and I'm personally really excited about the opportunity to help

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Speaker 3: reform K through twelve education, think about writer we reduce

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Speaker 3: hatred and intolerance in the world, focus on bridging relationships

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Speaker 3: with countries like China.

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Speaker 1: So there are these philanthropic interests.

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Speaker 3: That I've always had that I really want to focus

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Speaker 3: on and make my priority today.

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Speaker 2: And a reminder to our global television radio audience that

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Speaker 2: Mike Bloomberg is the founder and majority owner of Bloomberg LP,

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Speaker 2: which of course owns Bloomberg Television. Bobby twenty four hours ago,

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Speaker 2: an industry colleague of yours, Laura Mela of Electronic Arts,

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Speaker 2: who I believe you know well, was on the show.

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Speaker 2: On the close of this deal, EA will become sort

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Speaker 2: of the largest independent studio left and yet She gave

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Speaker 2: a glowing review of the deal. You know, I'm paraphrasing,

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Speaker 2: but basically said, this puts video games on the map

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Speaker 2: in the context of the entertainment industry. But she also

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Speaker 2: conceded that EA is a target, right, And I wondered

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Speaker 2: if you'd reflect on the years of negotiating regulators to

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Speaker 2: get this deal done, if you think that an EA

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Speaker 2: can remain independent, or if this opens the door to consolidation.

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Speaker 1: Well, EA is a fantastic company.

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Speaker 3: I started my career as a developer of software for

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Speaker 3: Electronic Arts, and so I will always have a great

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Speaker 3: reverence and respect and appreciation for the company. You know,

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Speaker 3: it's an extraordinary company, and you know that I think

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Speaker 3: they can remain independent and continue to be as successful

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Speaker 3: as they've been since they were founded in nineteen eighty three.

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Speaker 3: And you know, we're lucky to have companies like Electronic

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Speaker 3: Arts who have what we have, which is a workforce

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Speaker 3: that is enthusiastic and passionate and so committed to advancing

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Speaker 3: the art form of gaming.

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Speaker 2: Give me, give me a real answer here, Bobby, that

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Speaker 2: you know Microsoft buys Activision, is this kind of the

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Speaker 2: signal of where we're at with the video games industry,

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Speaker 2: that the studios, the creators have to live within a

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Speaker 2: much bigger technology entity because of AI the need for

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Speaker 2: cloud compute.

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Speaker 1: Well, I don't think that's the case at all.

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Speaker 3: I mean, you look at an example of a company

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Speaker 3: like Roadblocks, you know, it's you know, it was an example,

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Speaker 3: it was a startup not less than ten years ago,

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Speaker 3: and they've built an extraordinary business. There's enormous access to

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Speaker 3: capital for video game startups still today. I think, in fact,

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Speaker 3: probably more venture capital has gone into video game companies

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Speaker 3: in the last few years than ever before. The competitive

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Speaker 3: environment still favors great entrepreneurs with big ideas and visions

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Speaker 3: and the ability to execute, and so I think that,

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Speaker 3: you know, whether you're large or small, there's going to

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Speaker 3: be continued opportunities for innovation and new types of companies.

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Speaker 1: I think for a company like.

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Speaker 3: Ours, what we just did was in the best interest

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Speaker 3: of the shareholders and are almost fifteen thousand incredibly talented

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Speaker 3: employees around the world.

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Speaker 2: So if somebody buys EA, I get it's a hypothetical.

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Speaker 2: It leaves very few options. What do you think that

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Speaker 2: entity looks like?

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Speaker 1: I'm not sure I really understand the question ed.

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Speaker 2: Well, it took Microsoft to spend seventy billion dollars to

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Speaker 2: buy Activision. If there's going to be consolidation in your

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Speaker 2: industry and you've led in this industry for three decades, right,

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Speaker 2: who do you think could buy Apple based on your

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Speaker 2: experience buy EA based without putting words in your mouth,

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Speaker 2: based on your experience of the last two years.

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Speaker 3: Oh, I wouldn't want to speculate. I mean, there are

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Speaker 3: just so many business combinations that are possible, but I

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Speaker 3: don't have an informed view of that.

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Speaker 2: Sitting here today, Phil Spencer, what task does he have

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Speaker 2: to take all of the people working at Activision and

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Speaker 2: bring them into Microsoft. Do you think that there's anything

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Speaker 2: he can learn from your company?

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Speaker 3: Look, we have a fantastic company with an extraordinarily talented workforce.

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Speaker 3: People are passionate, motivated, enthusiastic, excited about this merger, and

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Speaker 3: Phil is an extraordinary leader. I couldn't think of a

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Speaker 3: better person to give the reins too for the business.

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Speaker 3: You know, he is a passionate gamer, He's been involved

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Speaker 3: in this industry since nineteen eighty nine. You know, he's

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Speaker 3: incredibly technically capable, visionary leader. People love working with him,

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Speaker 3: and I think it was actually one of the really

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Speaker 3: appealing parts of this transaction was to know that the

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Speaker 3: people that I've worked with for three decades are going

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Speaker 3: to have a leader who is extraordinarily capable and passionate

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Speaker 3: and compassionate and will do a wonderful job leading the

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Speaker 3: combined companies.

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Speaker 2: We're speaking with Bobby Kotik, the Activision Blizzard CEO here

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Speaker 2: on Bloomberg Television and Bloomberg Radio, and Bobby, as we discussed,

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Speaker 2: you will stay until the end of the year and

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Speaker 2: then focus it sounds like on philanthropy. But so those

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Speaker 2: that don't know you as well. You know the video

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Speaker 2: games industry and market is huge, but there will be

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Speaker 2: people that don't know your backstory. It's started in software,

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Speaker 2: right it started. There's a tie to the early days

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Speaker 2: of Apple. You've been able to work with Microsoft now

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Speaker 2: and the story of the year is generative AI. And

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Speaker 2: I wondered if you could just give us some illustrative

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Speaker 2: examples of how you think their work in AI is

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Speaker 2: going to read through to video game development. No matter

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Speaker 2: how niche NPCs customization.

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Speaker 3: Look, AI is going to in fact, when you think

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Speaker 3: about the talent that it will be required to move

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Speaker 3: the art form forward and to be able to create

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Speaker 3: new innovation. AI and machine learning are going to be

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Speaker 3: the important new technologies that are going to be transformative

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Speaker 3: for the future types of games that will create. There

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Speaker 3: are so many important applications, whether it's generating art and animation,

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Speaker 3: or onboarding players, or creating greater experiences for players through

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Speaker 3: better tools like player match. There is an enormous amount

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Speaker 3: of benefit that will come from the evolution of AI.

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Speaker 3: It's the early innings though, of really figuring out how

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Speaker 3: to translate what is the available technology today into practical

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Speaker 3: solutions for gaming. But I think this is one of

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Speaker 3: the big areas of opportunity for us on a combined basis,

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Speaker 3: because Microsoft is clearly.

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Speaker 1: Right now I think the leader in AI and machine learning.

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Speaker 1: So Ed, I wanted to.

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Speaker 3: Say thank you very much for the opportunity to have

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Speaker 3: me today. I really really appreciate it and I look

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Speaker 3: forward to continuing the conversation.

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Speaker 1: And it was very very genniferous of you to include me,

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Speaker 1: all

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Speaker 2: Right, Bobby Koateek, Activision CEO for now, thank you