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Weaver brought Altman on board as CEO, contributing his stock in Bethesda Softworks so that the new shell company, named ZeniMax Media, would be able to obtain funding. Weaver served initially as Chief Technology Officer of the company from 1999-2002, then moved to a non-operational role in 2002. Weaver filed a lawsuit against ZeniMax in 2002 for breach of contract, claiming he was owed US$1.2 million in severance pay. In the end the case was resolved out of court. Although still the largest shareholder, Weaver no longer had any day-to-day responsibilities with Zenimax.
On October 30, 2007, ZeniMax announced that European broadcasting group ProSiebenSat.1 Media was intensifying its relationship with ZeniMax. It launched SevenGames.com, the international version of its German game platform, in December and work with ZeniMax to develop online games. ProSiebenSat.1 Media held a 9% stake in ZeniMax at the time through SBS Broadcasting, which it acquired the same year. SBS Broadcasting previously acquired a 12.5% stake in ZeniMax in October 2000 as part of the partnership between the two companies at the time. This included ZeniMax's e-Nexus Studios subsidiary, developing European entertainment portals and web sites for SBS, as well as other stock purchase agreements between SBS and ZeniMax.
In September 2009, ZeniMax acquired rights to the Prey video game franchise. In December 2009, ZeniMax acquired publishing rights to the id Software game Rage. The game was to be published by Electronic Arts.
On March 3, 2011, ZeniMax announced a partnership with the University of Southern California School of Cinematic Arts to support its Interactive Media Division with a comprehensive educational program of guest lectures and internships.
Investors and financials
In 2000, SBS Broadcasting acquired a 12.5% stake as part of the partnership between the two companies. Its Chairman and CEO, Harry Sloan, became a ZeniMax board member a year prior to that. In 2016, Prosieben sold its stake in ZeniMax for 30 million euros.
As of 2007, Weaver held a 33% stake in the company. In 2007, it was valued at $1.2 billion, when it raised $300 million from Providence Equity Partners in exchange for a 25% stake.
In 2010, Providence invested another $150 million for an undisclosed stake.
In May 2016, it was valued at $2.5 billion.
In May 2014, ZeniMax sent a letter to Facebook and Oculus VR asserting that any contributions that John Carmack made to the Oculus Rift project are the intellectual property of ZeniMax, stating that "ZeniMax provided necessary VR technology and other valuable assistance to Palmer Luckey and other Oculus employees in 2012 and 2013 to make the Oculus Rift a viable VR product, superior to other VR market offerings."
On May 21, 2014, ZeniMax filed a lawsuit against Oculus. On June 25, 2014, Oculus filed an official response to the lawsuit. Oculus claimed ZeniMax was falsely claiming ownership to take advantage of the acquisition by Facebook. Oculus also claimed that the Oculus Rift did not share a single line of code or any technology with ZeniMax's code and technology.
On February 1, 2017 a Dallas, Texas jury awarded ZeniMax $500 million in their lawsuit against Oculus. The jury found that Oculus did not misappropriate ZeniMax trade secrets, but had violated ZeniMax's copyrights and trademarks in addition to violating a non-disclosure agreement.