I dont think Bungie choosing Activision is a terrible idea even if you factor in the recent affair at IW.
IW was formed in 2002 and was fully acquired by Activision in 2003.
Bungie is so big and is a potential moneymaker of huge proportions and wont be owned by Activision so Bungie could probably set their own demands. Bungie could probably demand that they should have "full" access to the ass holes of every board member at Activision and get it. :)