This excerpt taken from the ATVI DEFA14A filed Dec 5, 2007.
So I believe we made the right decision and I believe when we look at the contribution today of both Universal Studios and of our cable networks to NBCUs profits, I believe it really speaks for itself.
Now, also you remember at the same time we decided to keep and grow Universal Music, where obviously each project threshold is much lower, and you have seen our ability in the last four years to grow the operating margins of UMG. If you remember, in 03, we had operating margins of around 4% and now we have operating margins of around 12%. So I think weve been able to be good managers and good shareholders for this music business
I think in the video games business there is no question that Activision Blizzard will have the right scale, and I think also we are pretty happy that the way the management of the risks that are associated with each single project, we believe this is much easier than for a movie. So the subscription-based model also gives us a lot of resilience. So I am very confident that with Bobby Koticks strong management skills and I think