This excerpt taken from the ATVI DEFA14A filed Dec 11, 2007.
3. As the majority shareholder, will Vivendi have controlling power over Activision Blizzard?
Vivendi will be the majority shareholder and will hold six seats on Activision Blizzards eleven seat Board of Directors. As board members, they will be involved in strategic decisions related to the combined company.
Like all directors, Vivendi board representatives will have fiduciary duties to all Activision Blizzard shareholders. In addition, certain actions of the board relating to the rights of minority shareholders will require the separate approval of the independent directors on the board.