industry news
Take-Two First Quarter Results Hit Next Week
Posted by Brian Crecente at 4:00 AM on March 5, 2008
It's been a little more than a week since Electronic Arts announced their intentions for Take-Two, plenty of time, if you ask me, for EA to host meetings with some of T2's major shareholders to help them see the light. But still there's no word from either company about how take-over plans are moving along.
Why?
I'd guess because people are waiting to hear what Take-Two has to say when they report their financial results for the first quarter, which ended back on Jan. 31. The company plans to report the results after the market close and then discuss them further during a 4:30 p.m. conference call. If an agreement isn't announced by Take-Two then, you can bet that Electronic Arts will don their white armor and prepare to take matter in their own hands.

Comments (AU Comments · US Comments)
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Rocci1212
Posted 5:33 AM 6/3/08
Stop EA.
Rocci1212
Ashkihyena
Posted 5:33 AM 6/3/08
@NotAZombie: Yeah, you don't get that they pump out the same sports game every year, that the only thing they change is the roster and thats it?
Yeah, that and they want to squash any other sports competition, which T2 has with 2k sports.
Ashkihyena
MiyamotosChin
Posted 5:33 AM 6/3/08
@Zanch: The mind numbing stupidity and failure to execute and deliver what their Madden fanbase wants has caused me to doubt any sort of repenting for past mistakes.
Let's say you want to play in an online league with an NFL game and get full stat tracking, etc. Thanks to EA, you have one option. You must pay a third party site for that privilege, because they refuse to include online leagues built into Madden, something that has existed in several 2K sports games for some time.
Let's say you pay that third party site, and want to have a fantasy draft and play with created teams in that league. You can not retrieve stats from an online created team game, you can not see the opposing teams players' names, and you can not see their team name.
Add in the numerous glitches people use in online play (WR double pass. The QB throws to the WR. The play is designed to have the WR throw downfield. The CB that is in man coverage on said WR backs off, allowing the WR to run for a 10 - 20 yard gain. Every. Single. Time. What should happen is the CB should run down the WR as soon as the ball goes to him. This doesn't happen because of an AI flaw. There are about 3 or 4 more exploits like this in the game), the graphical glitches that occur when you play All - Madden (ball goes through your WR for an interception), constant disc errors, and you have to wonder if the people at EA Sports have actually played their own game.
MiyamotosChin
Zanch
Posted 5:33 AM 6/3/08
Am I the only one who thinks EA's been doing a decent job of repenting for their past mistakes?
Zanch
skrame
Posted 5:33 AM 6/3/08
@Banedon38: The stock is only worth $26 because of the offer. If they withdraw the offer, look for the stock to plummet back to the $15-$17 range. There is no way this stock will reach $40 for a take-over. I think $28 is the max that EA will need to go, but the current offer may be enough.
skrame
Banedon38
Posted 5:33 AM 6/3/08
EA's Bid have to be much much higher than $26 if they want to buy/hostile takeover then company now since the stocks are now worth $26. They probably have to offer around $40 to make TTWO consider their offer.And since EA don't have the unlimited coffers of Microsoft, i doubt the takeover will happen anytime this year
Banedon38
jspeed04
Posted 5:33 AM 6/3/08
Don't take away my NBA 2k please!
///Moe Voice/// I'll do anything you want...Anything!!!
jspeed04
HurricaneDave
Posted 5:33 AM 6/3/08
I threw some legal gymnastics that Visual Concepts is able to leave the fold and continue making quality football games.
HurricaneDave
NotAZombie
Posted 5:33 AM 6/3/08
Mmm delicious EA hate. I really don't get it but hey.
NotAZombie
crapsh00t
Posted 5:33 AM 6/3/08
@Agies: I'm pretty sure EA does not want to wait until then, when valuation of the company will have risen significantly. They're looking to pick up Take Two before the GTA4 launch.
Take Two understands their company will be worth significantly more after the GTA4 launch, however I doubt many of the random shareholders will. Hopefully enough of them understand the profit to be made that they don't sell out at the $26 mark.
crapsh00t
JoDi
Posted 5:33 AM 6/3/08
I say "Fuck it!" EA is not as bad as it has been and I only see them doing it for the money, not to ruin it or anything.
JoDi
Ashkihyena
Posted 5:33 AM 6/3/08
Yes, don't do it T2, if you don't join, it'll piss Jack Thompson off even more, which of course, is good for all of us.
Of course, thats not the only reason not to join EA, they will make all of your games bad.
Ashkihyena
A Pimp Named Daver4470
Posted 5:33 AM 6/3/08
The 1Q results only have an indirect effect on the potential merger, and only if they come in significantly over or under the analysts' expectations. But even then it isn't that relevant to this merger, because EA really wants to buy into the GTA4 future revenue -- the 1Q results only potentially affect the range in which their price offer per share should fall. (Because it affects the accretive value of the TTWO acquisition to EA.)
A Pimp Named Daver4470
Agies
Posted 5:33 AM 6/3/08
Didn't T2 basically say that they would reconsider an offer after GTAIV launches? My guess is that we will hear little to nothing from either party until then.
Agies
7ucky
Posted 5:33 AM 6/3/08
This has all happened before and it will all happen again...
7ucky
crapsh00t
Posted 5:33 AM 6/3/08
It's hard to see anything good for gamers coming out of EAs acquisition of Take Two. Bobby Darrin as an EA TRAX? Fuck you EA.
crapsh00t
Chilly Hollow
Posted 5:33 AM 6/3/08
Actually, not hearing anything right after an offer is made/rejected is normal. Tons will be going on behind the scenes, though.
Chilly Hollow
ezcheezbandit
Posted 5:33 AM 6/3/08
Don't Do it T2! Don't Sell out! EA will sanitize all the violence and suckify all the sports.
ezcheezbandit