History has shown us that film adaptations of popular games tend not to be very good; maybe that's the fault of the film studios, or just poor film-making. Whatever the reason it seems like Activision isn't willing to take those risks anymore, with reports claiming that the company wants its own TV and film studio.
It wouldn't be the first studio to express a desire to do such a thing, since Ubisoft has also revealed plans that it's to open its own studio. Plus, who can forget the very short life of Microsoft's own Xbox Entertainment Studios.
There isn't any indication of what IPs Activision might end up adapting just yet, but presumably the incredible success of franchises like Call of Duty and Skylanders make them prime candidates for the big screen treatment.