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Activision places $500 million bet on its next blockbuster franchise

06
May
2014

By Ronald Grover and Malathi Nayak LOS ANGELES/SAN FRANCISCO (Reuters) – Activision Blizzard Inc intends to spend $500 million developing and promoting Destiny, potentially breaking industry records as it seeks to build the sci-fi role-playing videogame into its next multibillion-dollar franchise. CEO Bobby Kotick revealed the number, which dwarfs Hollywood spending on some of its biggest firms, during the Milken conference in Los Angeles last week. Activision, eyeing the flagging growth of its long-running Call of Duty action-shooter franchise, is eager to lay the foundation for its next multi-game blockbuster series. Investors hope that Destiny, scheduled for release on September 9 from Bungie, the same studio that created Microsofts best-selling Halo franchise, could re-invigorate Activisions revenue, which slid 6 percent in 2013.

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