PS3 News: Take-Two Considers "Interested Parties," Decides To Fly Solo - PS3 News

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Take-Two Considers "Interested Parties," Decides To Fly Solo

Well, after all that, Take-Two Interactive has decided they're simply better off flying solo.

Not long after Electronic Arts withdrew their buyout bid, Take-Two met with "various interested parties" to consider selling to another company, but according to the GTA publisher's official site, they're done talking. Despite the slumping stock as a result of EA's pullout, Take-Two believes it's in the stockholders' best interests to keep the company independent. CEO Ben Feder reminds us that they have "15 wholly owned brands" on their side, along with "an undrawn $140 million" to utilize if necessary. As for Chairman Strauss Zelnick, he had this to say in conclusion of the events:

"Take-Two's Board of Directors and management have a clear mandate from stockholders to maximize value. 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."

Okay, so that's just about it. EA isn't getting Take-Two, and at this time, nobody else is, either. Most gamers will probably see this as good news, although the stockholders may disagree for the time being. But given Take-Two's history and their ability to publish hot titles, we figure they're gonna be around for a very long time. And that, no matter how you look at it, really is good news.

10/2/2008 John Shepard

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Comments (6 posts)

www
Thursday, October 02, 2008 @ 10:58:06 AM
Reply

Independent is the ish,Ride solo Take-Two.

Dat was the right move EA woulda killed it.Not errthang in this world fits to be commercial,I neva really knew take-two were gta publishers,some things are just good bein kina underground.Gta woulda got so commercial being released every year like EA said if they took over,n nobody would pay attention no more.

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Zapix
Thursday, October 02, 2008 @ 11:39:38 AM
Reply

GOOD JOB TAKE-TWO!

Need more guys like Take-Two not being gobbled up by the godzilla companies. They held off against a near hostile take over from EA, and continue to sing to their own tune. Good day for gaming news with just that :)

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WorldEndsWithMe
Thursday, October 02, 2008 @ 12:59:13 PM
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Good call here, if they were bought up then all their brands would have been exploited to the point of shovelware. Its nice to see not all companies are willing to sell out, yeah EA retracted the bid but they could have sold out for less to someone else. Agree with Ben, we are gonna keep seeing the Take Two logo at the start of our games for awhile.

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ThePoetRazel
Thursday, October 02, 2008 @ 1:23:44 PM
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Thumbs up Take-Two. Keep up the good work.

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Jed
Thursday, October 02, 2008 @ 6:46:29 PM
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Awesome, I didnt really expect them to hold out but it's great that they did.

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Scarecrow
Thursday, October 02, 2008 @ 9:50:41 PM
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Beautiful...

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