{"id":415439,"date":"2022-03-09T18:56:07","date_gmt":"2022-03-09T15:56:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/barry-diller-david-geffen-probed-over-microsoft-activision-trades\/"},"modified":"2022-03-09T18:56:07","modified_gmt":"2022-03-09T15:56:07","slug":"barry-diller-david-geffen-probed-over-microsoft-activision-trades","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/barry-diller-david-geffen-probed-over-microsoft-activision-trades\/","title":{"rendered":"#Barry Diller, David Geffen probed over Microsoft-Activision trades"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a242e7cb46fa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a242e7cb46fa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/barry-diller-david-geffen-probed-over-microsoft-activision-trades\/#%E2%80%9CBarry_Diller_David_Geffen_probed_over_Microsoft-Activision_trades%E2%80%9D\" >&#8220;Barry Diller, David Geffen probed over Microsoft-Activision trades&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBarry_Diller_David_Geffen_probed_over_Microsoft-Activision_trades%E2%80%9D\"><\/span>&#8220;Barry Diller, David Geffen probed over Microsoft-Activision trades&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The US government is investigating <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> moguls David Geffen, Barry Diller and his stepson Alexander von Furstenberg over bets the trio made on Activision Blizzard ahead of its merger with Microsoft.<\/p>\n<p>The three men have an unrealized profit of roughly $60 million from the trade based on Activision\u2019s recent share price of around $80, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/u-s-probes-options-trade-that-gained-on-microsoft-activision-deal-11646787000?mod=business_lead_pos6\">the Wall Street Journal,<\/a> which first reported the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of an investigation by both the Justice Department and the Securities and Exchange Commission. <\/p>\n<p>Diller, chairman of media company IAC, owner of the Daily Beast, People and All Recipes, confirmed the investigation by the DOJ. He told the Journal that none of the three men had private information about the looming merger.<\/p>\n<p>\u201cIt was simply a lucky bet,\u201d he told the paper. \u201cWe acted on no information of any kind from anyone. It is one of those coincidences.\u201d<\/p>\n<p>Diller said von Furstenberg, son of his wife, fashion designer Diane von Furstenberg, had been \u201cbuying Activision stock prior to that and the thought was that Activision at some point would either go private, or would be acquired at some point.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"699\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-01.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"David Geffen\" class=\"wp-image-21465904\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-01.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-01.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-01.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Music mogul and Dreamworks co-founder David Geffen is being investigated by the DOJ and SEC, along with Barry Diller and Alexander von Furstenberg.<\/figcaption><figcaption><span class=\"credit\">Alberto E. Rodriguez<\/span><\/figcaption><\/figure>\n<p>Diller, von Furstenberg and Geffen, a music mogul and producer known for launching Dreamworks with Steven Spielberg and Jeffrey Katezenberg in the \u201990s, bought options to purchase Activision shares at $40 each on Jan. 14 in private deals arranged through JPMorgan Chase, sources told the Journal. They said the video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> developer\u2019s stock was already trading around $63 at the time. This meant that the options already were profitable to exercise, and option holders could reap more if Activision\u2019s stock price rose.<\/p>\n<p>Microsoft announced it was buying Activision, maker of popular video games like Call of Duty, World of Warcraft and Candy Crush, for $69 billion or $95 a share on Jan. 18.<\/p>\n<p>The shares ended Jan. 18 at $82.31, gaining 26%. Over the course of the day, Activision shares rose 48 cents to $81.03 on Nasdaq.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-06.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Barry Diller\" class=\"wp-image-21465916\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-06.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-06.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-06.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Diller (above), Geffen and von Furstenberg stand to gain between $60 million and $100 million from the Activision deal.<\/figcaption><figcaption><span class=\"credit\">Kevin Dietsch<\/span><\/figcaption><\/figure>\n<p>As part of a 2020 criminal settlement over market manipulation claims, JPMorgan Chase was required to report the trades to law enforcement after the merger deal was made public.<\/p>\n<p>The Journal said the DOJ is investigating whether any of the deals violated insider-trading laws, and the SEC is looking at a civil case along the same lines. The feds did not comment. The men could not be reached for comment.<\/p>\n<p>Call options give a trader the right to buy shares at a specific price by a certain date. The Journal reported that Diller, von Furstenberg and Geffen haven\u2019t yet exercised the options, which don\u2019t expire until early next year.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Facade with sign and logo at regional headquarters of computing company Microsoft in the Silicon Valley, Mountain View, California, May 3, 2019. \" class=\"wp-image-21465938\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/feds-probe-barry-diller-david-geffen-microsoft-03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Microsoft announced it was buying video game maker Activision for $69 billion in January.<\/figcaption><figcaption><span class=\"credit\">Smith Collection\/Gado<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/sony-ActivisionBlizzard-_26.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"this photo illustration, the Activision Blizzard logo is seen displayed on a smartphone screen with the Microsoft Corporation logo \" class=\"wp-image-20885721\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/sony-ActivisionBlizzard-_26.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/sony-ActivisionBlizzard-_26.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/sony-ActivisionBlizzard-_26.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Activision Blizzard is known for popular video games like Call of Duty, World of Warcraft and Candy Crush.<\/figcaption><figcaption><span class=\"credit\">SOPA Images\/LightRocket via Gett<\/span><\/figcaption><\/figure>\n<p>The trio reportedly have spent around $108 million to acquire the right to buy 4.12 million Activision shares. Those options are now valued at around $168 million, based on recent trading prices. The value of the options would rise further if the deal closes at the per-share price of $95. Microsoft expects to close the deal no later than June 2023.<\/p>\n<p>If the men hold the options through a closing at that price, their profit stands to surpass $100 million, sources said.<\/p>\n<p>Diller, who has served on the Coca-Cola board with Activision CEO Bob Kotick, and Geffen are longtime friends who go way back. In the 1960s, the media moguls cut their teeth in the mail room at the William Morris agency, a breeding ground for some of today\u2019s biggest Hollywood execs.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/09\/barry-diller-david-geffen-probed-over-microsoft-activision-trades\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Barry Diller, David Geffen probed over Microsoft-Activision trades&#8221; The US government is investigating media moguls David Geffen, Barry Diller and his stepson Alexander von Furstenberg over bets the trio made on Activision Blizzard ahead of its merger with Microsoft. The three men have an unrealized profit of roughly $60 million from the trade based on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/comp-feds-probe-barry-diller-david-geffen-microsoft.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74898,126552,5037,106812,83068,89888,70358,70514],"class_list":["post-415439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sec","tag-3-9-22","tag-activision-blizzard","tag-barry-diller","tag-david-geffen","tag-insider-trading","tag-investigations","tag-justice-department"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415439"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415440"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}