industry news
Take-Two Won't Be Merging With Anyone, Thanks
Posted by Luke Plunkett at 12:00 AM on October 3, 2008
For a while there, it seemed like Take-Two would be bought by EA. And if not by EA, then they'd either be bought, or be merged with, somebody. Guess they had a change of heart! Because they've just released a statement saying that they'll be going it alone:
Following detailed discussions with various interested parties over the last five months, Take-Two's Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company.
Reason being that, since GTA IV came out, things have been going so well that they figure they can survive those single friday nights at home, alone, wth nothing but a bottle of red and a mangy old cat for company.
New York, NY - October 2, 2008 - Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced today that it has completed its review of strategic alternatives for the Company.
Following detailed discussions with various interested parties over the last five months, Take-Two's Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company.
"Take-Two's Board of Directors and management have a clear mandate from stockholders to maximize value," said Strauss Zelnick, Chairman of the Board of Take-Two. "We are strongly positioned creatively, financially and competitively to benefit from the opportunities we see in the fastest growing segment of the entertainment industry. Our management and outstanding and talented employees have maintained an unwavering focus on our products and our business through this lengthy strategic review process and we are confident in our prospects. We remain focused on maximizing value for stockholders and are executing on our business strategies in a determined manner."
Ben Feder, Chief Executive Officer of Take-Two added, "Take-Two's recent performance demonstrates our potential to create value for the long term. We have delivered solid financial results and expanded our portfolio of leading titles, which includes the powerful Grand Theft Auto franchise, as well as 15 other wholly owned brands with sales of more than one million units each. Our strong cash position - with no debt and an undrawn $140 million credit facility - gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect."

Comments (AU Comments · US Comments)
There are currently no AU comments for this post.
doodleschmidt
Posted 12:22 AM 3/10/08
This couldn't be better news. This means I can continue to purchase Take 2 games. I don't support EA and it would make me very sad to not play T2 games anymore.
doodleschmidt
Morpork
Posted 12:16 AM 3/10/08
I think Luke accidentally uploaded from his alone time picture folder.
Morpork
KingDavid73
Posted 12:16 AM 3/10/08
good, EA needs to calm down and stop buying everything
KingDavid73
fELIXADER
Posted 12:13 AM 3/10/08
They are going alone and choosed to choose no one? Perhabs that is what relates? Don't know exactly.
fELIXADER
Herodito
Posted 12:12 AM 3/10/08
Well, the title sounds very much like something Bridget Jones would say.
Herodito
sh0tgunn0strils
Posted 12:10 AM 3/10/08
I can't get the correlation to the pic, I'm usually spot on.
sh0tgunn0strils
TheHeeyyy
Posted 12:06 AM 3/10/08
I wonder how long it'll take for the shareholders to give the boot to Zelnick?
TheHeeyyy
captaindirtnap
Posted 12:05 AM 3/10/08
@Vetterli:
Yeah, I can't puzzle this one out...
captaindirtnap
Vetterli
Posted 12:03 AM 3/10/08
Of all the pictures in the world you chose a picture of Reene Zellweger!
Vetterli
CoyoteGamer
Posted 12:46 AM 3/10/08
Overall this is better for us consumers. The last thing we want to see is EA and Blivendivision being the lone publishers, duking it out until the end of time.
Though I'm sure some shareholders aren't too happy...
CoyoteGamer
Rampage
Posted 12:44 AM 3/10/08
Don't talk about the merger Ned!
Don't think about the merger Ned!
Don't even mention the word merger Ned!
Rampage
CoyoteGamer
Posted 12:44 AM 3/10/08
@reekon: There really shouldn't be any debate over Hot Coffee. Developers all the time eliminate content not by deleting it but by simply locking it out. It's the standard procedure in programming because if they do delete the code there is a good possibility it will cause bugs in the game, which in turn could end up delaying the title. It's safer and better to just lock it out.
CoyoteGamer
KingDavid73
Posted 12:39 AM 3/10/08
to add to my excitement, now we won't be playing versions of 2K games where you are a mercenary and get piles of gold...
->
Army of Two - You are mercenaries and get piles of money.
Mercenaries 2 - You are mercenaries and get piles of money.
Battlefield Bad Company - You are soldiers who fight mercenaries who have piles of money... which you steal, giving you piles of money.
... and all of these games came out within less than a year of each other.
I can imagine it now... Bioshock - pimp out your own Big Daddy... gold rimmed helmet?
Gold plated horses in Oblivion... Mercenary race in Civilization where gold production is doubled always or something, I don't know, it's not good stuff. It's kind of funny that a huge rich company like EA is so obsessed with money, that it makes it major themes in it's games... sigh. Moneyaholics Anonymous anyone?
KingDavid73
elementary
Posted 12:39 AM 3/10/08
@sh0tgunn0strils: Ha! It's merely a commentary on contemporary mores. It's a slice of life.
elementary
cmd
Posted 12:37 AM 3/10/08
Nice try of t2 to save their "face" =)
my more realistic approach on this is that no other company wants to buy or merge with them..
Because if the worlds leading publisher, EA , quickly back away after getting to see T2's internal files and sku plan it must be something not that good about it, and that probaly scares other companies away also.
cmd
ThursdayNext
Posted 12:36 AM 3/10/08
Following detailed discussions with various interested parties over the last five months, Take-Two's Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company.
or
Now that EA have looked at our books and know we ain't got shit worth buying, they've bolted like a whippet, taking everyone else who was even pretending to be interested with them. Please don't fire my ass for losing you 10 bucks per share in economically difficult times.
ThursdayNext
Insane
Posted 12:30 AM 3/10/08
WOOHOO !
Sweet victory fr the gamers
Take that EA !
im pretty damn sure, if the T2 continues working like this, They are going to be the one who offer to buy EA, not to get bought by them
that was a great news, Go Take two !
Insane
lumpi
Posted 12:28 AM 3/10/08
Is it good-news-day? It must be good-news-day.
lumpi
reekon
Posted 12:26 AM 3/10/08
I guess Luke's referring to the single Friday nights alone therefore ==> Bridget Jones.
Plus if you think about it that 2 men were viciously fighting over her in the 2 movies, then maybe that relates to how other companies were trying to fight over Take-Two.
And Bridget was imprisoned wrongly in the 2nd film for something she hid in her bag.
Take-Two was criticized "wrongly" (debatable) for something they hid (Hot Coffee).
So all-in-all, Bridget Jones, lonely, illegal stuff hidden, 2 men, 2 movies, ==> Take-Two. Woah! =D
reekon
Sarinity
Posted 1:13 AM 3/10/08
Another win for the independant gaming industry, I just hope that T2 will be an example to other major devs, a shining light! a beacon of hope! that there are people out there opposing the likes of EA.
+2 for Take 2!
Sarinity
Avonej
Posted 12:56 AM 3/10/08
@Insane: I have a pretty good feeling they won't ever be able to match EA. Didn't shares drop down about ten dollars when EA said they would no longer try to buy Take Two? Also, it seems like Take Two is always in th red in terms of profits, and their whole strategy seems to be to desperately crank out GTAs to keep the losses down.
Avonej
badasscat
Posted 12:56 AM 3/10/08
@elementary: Wahlstein?
badasscat
ThursdayNext
Posted 12:55 AM 3/10/08
@Insane: "im pretty damn sure, if the T2 continues working like this, They are going to be the one who offer to buy EA, not to get bought by them"
AHAHAHAHAHAHAHAHAHAHAHA!!!
no.
ThursdayNext
reekon
Posted 12:55 AM 3/10/08
@CoyoteGamer: Wait, I'm not saying "debatable" to mean that I think they deserve what they got.
I mean "debatable" to say that it's an issue that is plainly still debatable.
I'm with you that they shouldn't have been blamed too much on the issue since they locked it already.
But we have to accept the fact that on the other side, they shouldn't have created the Hot Coffee mini-game in the first place.
reekon
Gray665
Posted 12:53 AM 3/10/08
Hooray!
Gray665
Android8675
Posted 1:41 AM 3/10/08
Take 2 are a bunch of idiots, Only people that oppose the merger aren't the game makers, it's the lawyers who know that their jobs are on the line because EA has enough monkeys in those positions.
Game Developers, as in the creative ones stand only to gain in a merger, results in better games, and more time to make them because of less overhead, oh and the #1 distribution channels for video games in North America.
I don't work at EA, nor Take 2, but hello, wake up and smell Business 101 people! QA, Middle Management, Lawyers, HR, QA, and all the non-creatives at Take 2, why not just apply at EA now and save yourself the hassle of applying for unemployment. idiots.
Android8675
Avonej
Posted 1:24 AM 3/10/08
@ThursdayNext: Nice name by the way. Sweet series.
Avonej
SolidLatino83
Posted 2:00 AM 3/10/08
How do any of you people think EA or anybody else not buying out T2 is good news? They have like one good game series and thats GTA. As awesome as Bioshock was it didn't exactly generate sales and was unjustly overlooked by a few too many people. T2 need EA if for nothing else to market their games better. I think I only saw a Bioshock commercial once. ONCE! I saw the GTA IV commercial fucking everywhere. Besides, EA has changed quite a bit and for the better.
And to whatever MORON said that T2 might buy out EA someday........ YOUR A FUCKING MORON!!!
SolidLatino83
Milkzhakes
Posted 1:55 AM 3/10/08
@Android8675: you obviously dont know EA then and what happens when a merger happens. Business 101 tells us that when a merger happens usually a good percent of the workers gets laid off. so while it may be good for all the fat cats it might not be good for say the rest of the company. Back to the EA issue, EA is notoriously known for screwing gamers and devs alike. i really dont want to go into detail but you can do some research and inform yourself on the type of company EA is, as well as the difference in quality that both EA and T2 put into their games.
Milkzhakes
vincevl
Posted 1:50 AM 3/10/08
With the bubble popping high in the sky, it's best to see what's around the corner before jumping in with both feet to make some shareholders a little richer. I see a change in the law coming which won't be particularly helpful to the larger corporations :)
vincevl
face0324
Posted 2:51 AM 3/10/08
@SolidLatino83:
Actually I was hoping EA would buyout T2 I saw alot of good things come out of that whole ordeal
face0324
skrame ☆
Posted 2:38 AM 3/10/08
@ThursdayNext: B! I choose B!
skrame ☆
skrame ☆
Posted 2:37 AM 3/10/08
@Vetterli: Someone had to do the dirty work, so I took one for the team and looked up Renee Zellweger movies on IMDB. It would help if I knew what movie that image was from, but here's a few titles that may or may not make sense here:
My Own Love Song (2009)
My One and Only (2009)
Cold Mountain (2003)
Me, Myself & Irene (2000)
Jerry Maguire (1996)
The Return of the Texas Chainsaw Massacre (1994)
Ok. The last one doesn't make sense, but it's the only one I've seen.
skrame ☆
ikiddo
Posted 3:11 AM 3/10/08
Hell .. With ea they'd only do better.
ikiddo
interstate78
Posted 2:59 AM 3/10/08
@SolidLatino83: Bioshock? Not generating sales?
you must be living under a rock my friend!
interstate78
testmunky
Posted 2:55 AM 3/10/08
@vincevl: and whats that?
testmunky
SolidLatino83
Posted 3:37 AM 3/10/08
@interstate78:
Did it break any records? Did it set any records? When a masterpiece such as Bioshock comes out you expect it to shatter records. While it sold well, it didn't help save T2 the same way GTAIV did. Do you get it now.
SolidLatino83
PlatformJunkie
Posted 3:23 AM 3/10/08
This seems to be good for the gamers, and that's all that matters to me.
PlatformJunkie
gloveofpower
Posted 4:22 AM 3/10/08
yes. Good! No more gigantic corporate conglomerates! I like take two as it's own entity. Down with consolidation and monopolies!
gloveofpower
Dragon_Warrior
Posted 5:39 AM 3/10/08
@skrame ☆: It's from bridget jones. It's a reference to her being fought over by two different men, and how she usually spends her time alone. Don't ask me how I know this.
Dragon_Warrior
mcx
Posted 6:11 AM 3/10/08
Awesome leave my NBA 2k, GTA, and Bioshock alone.
mcx
hagridore
Posted 6:05 AM 3/10/08
You go, girl!
hagridore
invictus13
Posted 6:00 AM 3/10/08
@Dragon_Warrior: hahahahha someone give this man a star next to his name
invictus13
Luke Plunkett
Posted 8:19 AM 3/10/08
@Dragon_Warrior: Gold star
Luke Plunkett
Zaikman
Posted 8:20 AM 5/10/08
@Android8675:
That's not entirely true. What happens if EA buys out your publisher, Take-Two, but EA already has a game similar to yours in their production pipeline? Uh oh! You, as a game developer, are screwed, because why would EA continue spending money to fund two similar titles when they could give yours the axe?
Zaikman