"While a sale of Activision Blizzard is likely the preferred route for Vivendi, we assign a low probability to this outcome, as, in our view, there are not any readily apparent buyers. Activision Blizzard dwarfs the other domestic publishers in terms of market capitalization (at ≈ $13.5 billion) and enterprise value (at ≈ $10 billion); international game publishers have made smaller acquisitions in the past, and have focused on developers rather publishers." - Wedbush analyst Michael Pachter
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