Top
60°

Breaking: Take-Two Considering Sale Of Company

Major publisher and developer Take-Two (Grand Theft Auto series) has announced that it is considering a sale of the company, following a fierce shareholder battle which threatens to depose major executives and the board.

A group of prominent Take-Two investors owning 46% of the company's shares, including OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment, are looking to remove current CEO Paul Eibeler and bring about changes within the company's board of directors.

Due to this, Take-Two has announced that it has postponed its annual meeting from March 23rd until March 29th "...to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders."

The main example of an alternative course of action is "a possible sale of the Company", though the official notice also notes: "There is no assurance that any specific alternative proposal will be forthcoming."

Read Full Story >>
gamasutra.com
The story is too old to be commented.
Jak4ever3807d ago

IT IS OVER.

EA will now absorb this companys creativity and squeeze it out like a Pappa Johns pizza.

Long live creative dillutionary politics.

!)&*@)& EA.

darkvenom3807d ago

What if Sony or Microsoft jump on this? it would definitly make either one much better.

Dlacy13g3807d ago

GTA probably has about one title left in the series...given all the heat surrounding it...I don't know if another GTA will be made after the 4th one comes out. So given that....what esle does T2 have to offer in terms of titles to a company like MS or Sony?

errr....scratch that last comment. Was just lookin over their games...forgot about the 2k sports series. That would indeed be a nice pick up given how both Sony and MS have failed in their own sports lines of games. But then again...which ever company did pick it up would be squaring face to face with heavy weight EA. And how would EA react to that?

Might be too high a price to pay. Then again we are talkin GTA and 2k sports. Hmmmm....definitely something to ponder.

Norad63807d ago

Dpes this mean Jack Thompson won???? NOOOOOOOOOOOOOoooooooOOOOOoOOo ooo!!!