Bono to elevate Take-Two?

Source: One of the Big Apple's biggest tabloids, The New York Post.The official story: See below. What we heard: A week ago, Take-Two Interactive's share price spiked on rumors that the troubled publisher might be bought out. Though no potential suitors were named at the time, over the weekend,...

Source: One of the Big Apple's biggest tabloids, The New York Post.

The official story: See below.

What we heard: A week ago, Take-Two Interactive's share price spiked on rumors that the troubled publisher might be bought out. Though no potential suitors were named at the time, over the weekend, the Post ran a report claiming it had identified one.

The name of the company in question is becoming increasingly familiar to gamers. Under the headline "Bono Eyes Take-Two," the Sunday edition of the Post said Elevation Partners, the Silicon Valley venture-capital fund that includes the U2 lead singer and ex-EA president John Riccitiello on its board, was "rumored to be eyeing" a $1 billion bid for Take-Two. The article said that Elevation, which recently created its own superdeveloper by merging Pandemic Studios and Bioware, was "said to have teamed up with Pequot Capital, a hedge fund and venture-capital investor that owns a large chunk of Take-Two's shares."

"Why" are "there" so "many" quotes in "the" above "paragraph"? It's to display how the Post is, in its own words, reporting on a rumor. There hasn't been any official comment from Take-Two, which had not responded to inquiries as of press time. As for Elevation, a company spokesperson would say only that "we don't comment on rumors."

However, there are some precedents that give the rumor a bit of heft. First is the December 2004 rumor that had Elevation contemplating a bid for Eidos Interactive. At the time, it was the source of countless Bono-Lara Croft wisecracks. Months later, though, it was proven true when Elevation got into a bidding war with SCi Entertainment over Eidos. (SCi won.) The Post also points out that the company has taken over troubled companies before, negating the argument that the Grand Theft Auto: San Andreas sex-minigame scandal has made Take-Two too hot to handle.

Bogus or not bogus?: Bogus that anything official has been announced.

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Discussion

92 comments
kalkhaja
kalkhaja

wait a second, Bono from U2? WHY!!! he sux and is a poor gender confused pcychotic peadafile. Bono sux, will this be the end of GTA?!

kalkhaja
kalkhaja

[This message was deleted at the request of the original poster]

mr_han34
mr_han34

hi! i'm shanda leer. I live on the ceiling. give me some enLIGHTenment. I put a shine on your face. Who am I.

cbennett99
cbennett99

As Soon as Ps3 Comes out they will have a new Grand Theft auto out and they will be all set so they will not have to sell squat

shawnomac
shawnomac

there is probably some business end of this that i dont understand, but why can't Rockstar just break away? do they need to have a parent company like T2, or Sony, or Ms..... can't they just do it? they are way too powerful and well populated around the world to be taken down with the flames of their parents.

sgtderek
sgtderek

if bono makes a video game (takes off glasses for dramatic effect) my god, the horror. And you know that if this is true GTA will be hurt, Bono was at live aid or live 8 or both or something( the point is he is a humanitarian) Its the ex-EA part of John Riccitiello that is making him sell the company... to Bono... for 1 bil.

xion2k4
xion2k4

Bono great :( now with can have more of his massive ego in somthing else to bad his band are the most overrated band in the world and anything with his name on it will be over rated too

BigPimpn
BigPimpn

God I hope not!!! He will prohibit the production of GTA games. Rest assured, if it does happen, Rockstar will break away - guaranteed. They have too much dedication to us. Besides, if the government doesn't have any influence on them, then a pop-artist sure as hell won't have a chance in taking them down either.

NGMattAC
NGMattAC

I know the leader of Bono: Hillary Clinton!!! I've read between the lines!

AlbertoML
AlbertoML

It's not really a big deal, it'd be good to see what Elevation can do with the Take-Two franchises, now that they have a big pack of powerful developers. Besides, I personally think GTA is a greatly overrated game, very much like Halo. Don't get me wrong, I don't think it's a bad game but I think it's for kids who want to play grown-ups and do "bad things" on people... but well, that's my opinion, if you like it just play it, I don't because I don't like it. But think about it, now that Elevation has really powerful and respected developers, they could revive some franchises, like a better Max Payne or maybe a different approach to GTA (which in my opinion the new versions are just overpacked expansion packs to make money out of GTA3).

FRUITY_MONSTER
FRUITY_MONSTER

1 question why the hell does bono wanna buy take two it would do nothing but get ppl 2 hate him even more

loic54
loic54

I DONT GET IT!!!

game_masta14
game_masta14

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!! This can't be possible. Is this good bye to GTA FOREVER!?!?! I love GTA.

thefjk
thefjk

My Fav PC Company (Macromedia) was bought by Adobe (What'll happen to Flash) and now my Fav Game Company (Take-2) NOOOOOOOOOOOOOO! This cant be happening... Why me! Why me!

evildeathbear
evildeathbear

I dont even get the whole lawsuit thing over porn material in games, and the violence stuff definitely makes no sense to me, I've been playing video games since i was practically a baby and seeing people get shot, swear, thrown out of windows, decapitated, killing cops, killing children, playing hitman and slaughtering everyone with godmode/infinite ammo cheats and then piling all the half-naked male bodies for a gay photoshoot, all of that beautiful crap, hasn't even remotely phased me to this day... Hmm, as for the whole buy-out thing, I'd hope it's BS because so far those GTA games are the only games I ever owned that actually kept me glued to my computer/tv screen for over 15 hours. Oh and it'd also be great to see those games go into the whole "Next-Gen" graphics scene.

evildeathbear
evildeathbear

[This message was deleted at the request of the original poster]

roadifer
roadifer

To comment to those suggesting that putting out another game will solve Take Two's problems..... placing another game on the market does not quell the managerial problems that Take Two is experiencing. Especially when a board member resigns and states serious concerns on how business is conducted. They need to reorganize the environment before pushing out another GTA game.

lageasy311
lageasy311

bono being the hippy that he is, will end the GTA series, which is prolly why he's trying to buy the company in the first place :(

OPOLO
OPOLO

Bono Rules - Thank You

Igiss
Igiss

Take-Two will make it out if some US politicians won't choose the company as a prime target for anti-gaming efforts. That seems the case right now.

R3V3RS3D
R3V3RS3D

Man ... you guys are kind of sad. Every time I read posts from people that can't wait to stifle the production of fantastic games like those found in the Grand Theft Auto series make me want to light my hair on fire and punch myself in the face. You just wreak of misinformation. It's like the kids who pretty much follow whatever their parents say simply because they can't escape emulation. Why do you hate Grand Theft Auto so much? Seriously ... you don't have to play the game. Your friends don't have to. Senator's don't have to, Hillary Rodham doesn't have to ... actually, nobody does. The funny thing is ... you claim to hate the games and yet you can't stop talking about them. I really can't stand Dragon Ball Z. Guess what? I don't watch it. I understand that some of you are disappointed with the similarities between the games - but thats the reason I keep playing them. I like them. Doesn't that make any sense? Halo two wasn't all the different from the original but you aren't really complaining about that. How about the Dynasty Warriors series? What're they up to now - 10 editions after the Xtreme Legends implementation? The game is about hacking human being up into millions of pieces ... spanning ten different games. Why can't you complain about that? Is it so much worse to kill a police officer? Why? I guess I'm kind of pissed because you spout off half-retarded comments about the game needing to burn down and the company needing to be dismantled so the series never sees the light of day ... and for what? Kind of stupid.

Rybecki
Rybecki

I for one, am for any type of buy/sell situation that could possibly prohibit more GTA games. Not that a buyout would mean that that would happen, but anything that means it is a possibility, is good.

dru26
dru26

DMC is a Halo killer??? That's pretty funny. MG has a good story line but the fixed camera angles have to go, be4 I would put it above Splinter Cell. I would have kept my anti-Xbox argument to God of War.

MartinMan
MartinMan

I don't know what's worse EA or Bono

8bitantichrist
8bitantichrist

It'll be just like GTA, except instead of "Deliver the drugs to the crack house", we'll be playing "Deliver the food to the starving children" all the while rocking out to the least masculine band to ever walk the earth. Although shooting cops while listening to "With or Without You" would be funny in a sick, ironic sort of way.

StillWingless
StillWingless

wait...okay. i love bono and stuff, he's a great guy, way to go U2, the works. but does he know gaming? i mean, yeah. pandemic, bioware, sweet. but... iunno. am i right for being skeptical?

hush404
hush404

is it just me or is BONO the new EA? Buying up everything he can get his hands on?

yanyatkai
yanyatkai

It's better than EA's take over....

Thailfish
Thailfish

GTA can stay, they gotta make it different though, I've already played the same thing 3 times, a little change is required I think. I really ain't a fan of GTA though.

Sociologist
Sociologist

If Bono buys out Take-2, let us hope that he doesn't push Rockstar to develop AIDS Awareness Games or Eradicate Hunger in Third World Countries types of games. Seriously though, I hope Rockstar isn't pressured to tone down their games if Publisher Take 2 is bought out...

Stephen361984
Stephen361984

If Bono gets his hands on Take Two all their games will pause every few minutes to remind us of the plight of the poor I'm sure of it. If this is allowed to happen games as we know them will be under threat (or maybe I'm overreacting again).

davahsa
davahsa

If they do sell... expect M$ to aquire them...duh

Violent-M
Violent-M

No the reason they are trying to buy them out is because Take-Two is a very profitable company and makes games with a name everyone will buy up no matter how horrible the game may be. It doesn't have anything to do with how much money they are making. Though how much money they are making does affect the price of stocks out there. Not sure who holds the majority of take-two's stock but apparently if this company has a large chunk already and is eyeing the other public stock nothing is to stop them unless Take-Two decides to buy up the majority of the stock on the market.

Mitrix
Mitrix

wow moohan, that is one freaky story about the compulsive gaming.

Fallout_red
Fallout_red

JawnixPSboy... What? Sony lacking Killer App to fight Halo? ARE YOU BLIND??!! MGS4 and DMC4 have already killed Halo. They are not just head to head. Halo is far behind those two (Not to mention UT2007, Killzone and Next-Gen GTA). And Halo is a XBOX-fanboy game. If you want real FPS play F.E.A.R. .All console FPS games are Krap compared to PC ones (FEAR, Half-Life2 pc, Unreal Tournoment 2kX, SWAT4, RIDDICK pc and others... Notice that PC ones on some games like Doom3 and Quake4 are way better than consoles)

Am13roses
Am13roses

Bono is retarded. he will probably have his super gay side kick in and destroy GTA

NeoJedi
NeoJedi

This could be a very good move for Elevation and Take-Two.

Sango_Fighter
Sango_Fighter

Sounds possible. I mean Bioware/Pandemic companies are developers. Buying TakeTwo would be very beneficial to both sides. The B/P group doesn't have to actually "pay" money to start an IPO. The B/P would be able to publish their own games and keep the money instead of splitting with the publisher. The TakeTwo board would be able to get huge lump some money for the buyout/merger and relax. Other benefits include game rights such as GTA and Civilzation. Of course the buyout would cost about 20-30% the current market captialization price of $1.15B. Or about at least $20/share in my guess.

gdogg4210
gdogg4210

Last thing i wanna hear while getting my drive by on in grand theft auto is Bono screaming its a beatiful day

unrealylife
unrealylife

why is this? is it because of the hot coffe mod?

Poltergeist13
Poltergeist13

It's a wonder EA isn't tryin to buyout Take-Two.

dwoop
dwoop

They started getting greedy (aka EA) and now they're paying for it...they need to sell some of their less than stunner franchises and focus on their first party strengths...

rbarahona
rbarahona

It would be strange to see Bono related to Take Two. At least I also remember Bono hating guns and all that kind of violence. However GTA is just a game from a very talented company. Probably Bono and his advisors are aware of the potential forma business point of view. We shall see.

boblawblaw
boblawblaw

Interesting. I'm not sure if Bono would personally approve of this venture on a moral level at least. A number of years U2 refused to hold a press confrence in a Wal-Mart because ol'Wally sold guns. They opted for a K-Mart instead and were very public about their reasons. I wonder what he would possibly want with the GTA franchise. Intreguing to say the least.

teamparadox2k
teamparadox2k

moohan what difference would it make if someone who "wrote" GTA was gambling, they cant gamble company money as that would be illegal. Stop posting BS and move along.