I will say that I am rather excited for Activision's Walking Dead FPS...
I'm actually not that excited for it.. Tell Tale got the Walking Dead game correct.. It should be more than just a zombie shooter.. Maybe I'll be wrong and there will be more to it then that, but just going off the trailers I've seen..
As far as I am aware Activision does not own Blizzard. They were merged, and are owned by a parent company. They still exist as separate entities and the holding company doesn't publish games under it's central name. Blizzard also retains it's autonomy and corporate leadership.
Not that it changes the fact that they both make some seriously dumb calls.