Activision CEO, Chairman Sell $709 Million in Shares for Estates
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The heads of Activision Blizzard Inc. sold 17.5 million in shares in the video-game maker, raising $709 million for financial and estate planning and cutting their stakes in the company by almost half.
Bobby Kotick, Activision’s chief executive officer, still controls about 20.1 million shares -- a stake of about 2.7 percent -- while Brian Kelly, its chairman, is responsible for about 17.1 million, according to a regulatory filing Tuesday.