Activision (Tony Hawk series, Call of Duty, Guitar Hero, etc.) and Blizzard (WoW, Warcraft, Starcraft) are teaming up in an $18 billion dollar deal to work together.
The merged business will be called "Activision Blizzard." The CEO will be Activision's current CEO. The biggest shareholder will be Vivendi, the company that owns Blizzard.
Source: http://news.bbc.co.uk/1/hi/technology/7123582.stm
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I'm just frigging glad that neither one is selling out to Microsoft (knock on on wood, lol).