Rumors have been swirling around the past few months that Vivendi the parent company of Activision Blizzard was shopping the gaming publisher around in hopes of raising their stock prices. Well apparently that has been more difficult that initially thought because as a last resort  The Wall Street Journal is reporting that Vivendi may actually sell the company back to Activision Blizzard.

According to the report,Vivendi may try and sell their 61% controlling interest in the company back to Activision Blizzard as a last resort (if they are unable to find any other buyers). The Journal is reporting that Activision Blizzard has approximatley 3 billion in cash on hand, however that won’t be enough as Activision “would likely have to borrow funds or bring private equity or other outside investors into the fold to help finance a transaction,”.

Apparently Vivendi has been having some difficulty finding a good sales partner because of the cash needed on hand to purchase Activision Blizzard. Just last week Bloomberg reported there has been “little enthusiasm among potential suitors,”; these suitors include Microsoft, Time Warner, and Tencent. Microsoft you would have to think would be a hard sell considering that Activision would loose a lot of money from not being able to publish Sony and Nintendo versions of Call of Duty.

Another huge concern I would imagine is the fact if sales of Call of Duty: Black Ops II stagnate or decrease even the slightest this year then the asking price for Activision Blizzard would drop dramatically. There have even been some rumors that people feel the Call of Duty series has peaked and you won’t see a huge jump in sales that there was in years past.

Ultimately Vivendi may just make the decision to keep Activision Blizzard and sell off another part of their company, but there is no guarantee that they will be able to generate the stock bump or money that selling Activision would bring.

Vivendi has kept mostly quiet during the rumored sales attempts, the only thing they have said is ”We continue to look at all the options”. It will be interesting to see who will step up to the plate and actually buy Activision Blizzard, not to mention what changes might be made to Activision’s business model if they are in fact purchased by another company.

What company do you think would be the best fit for buying and revamping Activision Blizzard?