Oh god, please no. I don't want Activison in charge of GTA, they'll screw it up somehow.

Oh wow, didn't see this coming at all. Actually, I found the title of this thread quite shocking.

That's what everyone said about Bungie. Fancy that.

GTA would end up sucking. And be a small game. Acti would never allow the game to take 5 years to be made.

??? Activision didnt buy bungie...

Horrible news, terrible for competition.

Activision still has ownership of whatever Bungie works on so I'm sure you get the point. The same things were said when Bungie was contracted by Activision and people love what has come from Destiny. The reason why CoD and Guitar Hero come/came out every year were because they are/were very casual titles and didn't really need drastic amount of developement time. If GTA was under Activisions control I don't see how they could release that every year. Just because Activision failed with Guitar Hero doesn't make them failures. They have an amazing track record and many huge titles under their belt; they are successful for a reason.

What do the two companies compete in?

The video games industry.

Having a few, massive conglomerate companies is always bad for competition. How can any small company compete against the colossal amounts of money that a giant company like this would have?

Actually, they dont have ownership of destiny, bungie maintains ownership of it.  It is just a simple publishing/distribution deal for the next 10 years.  

If activision wanted to annualize gta, they would just so what they do with call of duty.  Hand it off to several different studios instead of just one.  Call of duty is actually on a three year dev cycle right now with three different studios working on three different games.  It wouldnt be very hard at all to annualize gta.

activision is horrible at driving franchises into the ground.  Tony hawk and guitar hero are prime examples of their approach to franchises.  Push them hard until every last drop of profit is gone, then drop them.  Call of duty is in an obvious decline largely due to franchise fatigue, but do you see activision resting the franchise?  Skylanders is also another franchise that is seeing yearly updates and will probably start declining soon.