Sep. 12, 2013
Ruth E. Fisher
See more on Ruth E. FisherGibson, Dunn & Crutcher LLP | Los Angeles | Practice type: Corporate
In the heat of the summer, Fisher found herself in the thick of an $8.2 billion deal in Silicon Beach.
Fisher represented Paris-based distribution giant Vivendi SA in its sale of most of its stake in Santa Monica-based gaming company Activision Blizzard Inc., a deal announced in late July.
Activision will buy most of the shares, and a group of investors including Activision executives Bobby Kotick and Brian Kelly will acquire a minority of the shares.
The transaction is unusual in that it's a large sale, yet one that is not taking the company private.
"A lot of times when you see a large shareholder selling back shares, the company is being bought," Fisher said. "Going from a company with a more than majority shareholder to a company with no majority shareholder ... there's really no precedent, which always makes it fun for a lawyer."
The Century City partner also represented Vivendi in its original $18 billion acquisition of Activision more than five years ago. More recently in 2011, she helped the company sell off its 20 percent stake in NBCUniversal to General Electric Co. for $5.8 billion.
Fisher has also been spending plenty of time doing other entertainment-related work up and down Silicon Beach.
Microsoft Corp. recently set up a studio in Santa Monica, and Fisher does some work for that company.
What she's seeing in the entertainment space is tension between content owners and deliverers.
"It's a situation where everybody needs the other side. Nobody can afford to have an all-out war," Fisher said. "There's tension over the fact that there are so many tools for consumers. They are fighting with every tool they can think of."
- ANDREW MCINTYRE
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390
Send a letter to the editor:
Email: letters@dailyjournal.com