Up through 2006, Bobby Kotick, the CEO of Activision, had been working to rebound the company from near-bankruptcy, and had established a number of new studios. However, Activision lacked anything in the MMO market. Kotick saw that World of Warcraft was bringing in over US$1.1 billion a year in subscription fees, and began approaching Vivendi's CEO Jean-Bernard Lévy about potential acquisition of their
struggling Vivendi Games division, which included Blizzard Entertainment. Lévy was open to a merger, but would only allow it if he controlled the majority of the combined company, knowing the value of World of Warcraft to Kotick. Among those Kotick spoke to for advice included Blizzard's Morhaime, who told Kotick that they had begun establishing lucrative in-roads into the Chinese market. Kotick accepted Lévy's deal, with the deal approved by shareholders in December 2007. By July 2008, the merger was complete, with Vivendi Games effectively dissolved except for Blizzard, and the new company was named Activision Blizzard.