Activision Blizzard Inc. ATVI, +1.02% shares fell in the extended session Thursday as the videogame publisher said it was ceding rights to the “Destiny” franchise to Bungie Inc. Activision shares dropped 6.7% after hours, following a 1% gain to close at $51.35 in the regular session. In a filing with the Securities and Exchange Commission, Activision said Bungie would assume “full publishing rights and responsibilities for the ‘Destiny’ franchise” and “will own and develop the franchise.” Activision said it does not expect “material revenue, operating income or operating loss” from “Destiny” in 2019.
Activision Blizzard Inc. shares . Year-to-date, ATVI has gained 10.26%, versus a 3.59% rise in the benchmark S&P 500 index during the same period.
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