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Take 2 Being Taken Over

The BBC reports:

"Shares in Take-Two Interactive Software jumped 18% as news of the management coup was unveiled. The company has been under fire for a string of financial irregularities - from overstated profits to illegally backdated stock options…. The investors own 46% of Take-Two and have said they will try to install Strauss Zelnick, the ex-chief executive of BMG Entertainment - which sold its own gaming arm to Take-Two in 1998 - as non-executive chairman. They will also aim to oust chief executive Paul Eibeler and review the position of chief financial officer, Karl Winters, documents filed with the US Securities and Exchange Commission said."

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news.bbc.co.uk
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T-Virus3601d ago

I thought with all the $$ GTA was making, they would never be in finacial troubles.

MoonDust3601d ago

Investor will soon change the stock, private equity might buy the company and they hopefully they will do something about EAs monopoly of sports.