Update: After reading Herb Greenberg's outlook on Take2's rejection, one has to re-examine if Zelnick cares about GTAIV more than money. Mr. Greenberg provides a perspective of Take2 and ZelnickMedia placing themselves before shareholders. The core issue still stands, though, and that is some gamers do not want to see GTA IV and subsequent titles in the series produced by EA.
In the interest of sharing some thoughts on the recent offer by EA to Take-Two this post has been created. Maybe we could say thank you Strauss Zelnick, executive chairman, and the rest of the Board of Take-Two for declining EA's offers. At least they stand behind their product when facing a monopoly. EA is not helping the game industry progress forward in terms of innovative and quality games, it seems they only see green. Do they seek GTA IV or do they just want a monopoly on sports titles? This could be an awakening for them.
Therefore, we offered to initiate discussions with EA on April 30th, 2008 (the day after Grand Theft Auto IV is scheduled to release). We believe this offer demonstrated our commitment to pursuing all avenues to maximize stockholder value, while we believe that EA's refusal to entertain this path is evidence of their desire to acquire Take-Two at a significant discount, whereas we believe this value rightly belongs to our stockholders.
Plainly stated, Mr. Zelnick politely and firmly says thanks, but no thanks. If Zelnick is in it only for money, that may be so, but something may be different about it. It is possible that he has a greater focus of excellence and money is only a byproduct of his drive, but time will reveal the truth. Back in March, he did say, "I'm much more interested in growing the business than in selling it, to be clear. I would say for the next five to seven years this is a terrific time to be in the video game business."
After reading the press release a message jumped out: The company has faith in their product. Producers and developers with faith in the product will evolve video games to greater levels. How do you feel about this offer by EA? All comments will be appreciated.