Take-Two Chairman takes down sale rumors

Source: A report from the Reuters news service. What we heard: Ever since the Hot Coffee scandal gut-punched Take-Two Interactive's earnings, rumors of its potential sale have smoldered. The fires of speculation flared up again in March, when a shareholder revolt ousted the company's board...

by

Source: A report from the Reuters news service.

What we heard: Ever since the Hot Coffee scandal gut-punched Take-Two Interactive's earnings, rumors of its potential sale have smoldered. The fires of speculation flared up again in March, when a shareholder revolt ousted the company's board. Following the putsch, the company's annual shareholder meeting was delayed so the new board could "evaluate alternative courses of action that could potentially be presented to the shareholders, including a possible sale of the company."

Though no sale offer was proffered at the shareholder meeting, the subsequent months have seen Take-Two's fortunes flag further. In June, its controversial snuff/stealth action game Manhunt 2 was banned in the UK and given an AO for Adults Only rating by the ESRB--a rating that would prevent its release on any console. (A revised version has since been rerated M for Mature and released in North America, although the game remains forbidden in Great Britain.) Then in August, the unthinkable happened: Grand Theft Auto IV was delayed until early 2008, which upended Take-Two's already precarious finances and sparked further takeover talk.

The official story: However, leading the new executive team is chairman Strauss Zelnick, a Harvard-educated former CEO of BMG Entertainment and Tomb Raider: Legend developer Crystal Dynamics (now an Eidos Interactive subsidiary.) Today, speaking with Reuters, Zelnick flatly quashed any speculation that his junta plans on putting Take-Two on the auction block.

"I'm much more interested in growing the business than in selling it, to be clear," he told the Reuters Media Summit. "I imagine headcount will grow. This is a growth business. We are in growth mode." To that end, the publisher recently secured the option for $140 million in financing.

How will Take-Two grow, exactly? "From a specific point of view, what we find most compelling is building up our collection of our intellectual property," explained Zelnick, who held up best-selling critical darling BioShock as an example. He also saw the GTAIV delay as a positive, not a negative. "I believe Grand Theft Auto IV is going to be vastly better than expectations--vastly better--and that's hard to do when expectations are so high."

Bogus or not bogus?: Bogus that Take-Two is on the market...right now. However, if GTAIV slips further or does not prove a best-seller (which is highly unlikely), that status could change.

Discussion

61 comments
zeeshan810
zeeshan810

If GTA4 doesn't prove a bestseller? :@ What, YOU MUST BE JOKING ME** :D :D

jmaster_111
jmaster_111

not a best seller? got the money set aside for the pre order already!

truk646
truk646

why are all you guys complaning that it got delayed so what you have to wate some more if i wher them i would delay it to because if you rush it it wont be as good it will have glitchis but it does suck that we have to wate fore the best game their is any way have any budy seen the tralier (looking for that speical somone) this game is going to sell like crazy and if it dont so what im getting it and that matters to me and any buddyels no buddy cares if any budyels gets it im i right

zeeshan810
zeeshan810

I'll bet all u guyz that RockstarGames is going to prove to all you that this not juss free roaming???

zeeshan810
zeeshan810

I'll bet all u guyz that RockstarGames is going to prove to all you that this is not juss free roaming

zeeshan810
zeeshan810

I'll bet all u guyz that RockstarGames is going to prove to all you ->non loverz of GTA

JPDUBZ
JPDUBZ

Most of you might be complaining about GTA IV being delayed so much, but you fail to realize that these delays are actually beneficial for it, because if they release it too early, it can possibly not measure up to GTA 3, Vice City, & San Andreas. But if they continue to work on it and decide to release it in November or December 2008, the game will come out on top and probably surpass the previous 3 GTAs in gameplay. And once GTA IV receives rave ratings and the people who buy it fall in love with it so much that they forget GTA 3, Vice City, & San Andreas ever existed, its sales will go through the roof and surpass the sales of Gears Of War, which is the best selling game on the XBOX 360 which sold over 4,000,000 copies, and automatically surpass the sales of Resistance: Fall Of Man, which is the best selling game on the PS3 which sold over 2,000,000 copies. So I applaud you all the way Take Two Development, 2K Games, Rockstar Games, and Rockstar North for spending as much time as possible working on this game and trying to get it to be a work of art and nearly flawless, because many people are saying that you are making a dumb move, that they are annoyed by it, and that GTA IV might not sell because of its delays, but they need to realize that you are working extremely hard and putting so much time and sweat into this game in order for it to be a marvel and hopefully become one of the highest rated games ever. You continue doing your great work Rockstar and Take Two, because in the long run, you will succeed and if you do release it November or December 2008, that is when people will be rushing out to go holiday shopping and so many people will go out to purchase this game around that time. It would still have strong sales after the holiday season and you can sleep well knowing that you made a state of the art game that so many people can call theirs and the best Grand Theft Auto ever made. And by the way, please include the 16 player online mode that was rumored to be in it and if you plan to, I hope you work extremely hard on it and make it a satisfying and addictive experience so it can par up to the story mode. There is another game that I need to mention Rockstar and Take Two. I really hope that you are putting a lot of time into Midnight Club: Los Angeles and I hope that when it comes out, it can even be better than Midnight Club 3: DUB Edition, and especially, Forza Motorsport 2 and Project Gotham Racing 4. I need you to make those two games extremely fun, potent, and relentless against all of the other competitors that are out there. I know you can do it and I am looking forward to those two games so much. Please don't disappoint in any areas of GTA IV & MC:LA. I have extremely high expectations for both of those games that I need not be shattered, but I know that Rockstar and Take Two can make both of those games threatening to the competition and make them into amazing games. Keep up the impeccable work Rockstar and Take Two. Grand Theft Auto IV and Midnight Club: Los Angeles will come out on top.

Silver_Crow
Silver_Crow

GTAIV, Not a best seller?........................xDDD jkajakjakajkajakajakjajakajakjaka WHAT A JOKE!!!!! XDDDDD

truk646
truk646

hasent every gta game been a best seller not just gta but any rockstar game so if they think gta4 in not going to be a best seller what is. The only competition they had was halo3 and thats not comptition no more do to the delay. so whats going to sell better than it

ThisCurse
ThisCurse

These articles are boring me....just wake me up when GTA IV is released. ZZzzzzzzz

MasterChief725
MasterChief725

I dont know about GTA 4 anymore. That game is starting to look REALLY fishy...Either way, it will sell, A LOT!

Cwagmire21
Cwagmire21

GTA IV is dominant franchise - the name GTA sells itself.

HXCDEW
HXCDEW

Link_Destined_1 "A GTA game not selling well will be the day that McDonalds stops making hamburgers." ----- They make hamburgers?? I thought they make poop.

HXCDEW
HXCDEW

Hahaha Gamespot is on crack again. "However, if GTAIV slips further or does not prove a best-seller (which is highly unlikely), that status could change." GTA IV will sell like hotcakes. Think about your own status Gamespot, and improve your journalism.

Elaqure
Elaqure

For everyone NOT reading the article it states: "However, if GTAIV slips further or does not prove a best-seller (which is highly unlikely)". Before commenting, please read the whole sentence so you don't make yourselves sound stupid... Other than that, they should just put this out on PC...that would solve the problem for everyone...put it on the most neutral system on the market. pretty much everybody has a PC...why not make it compatible with most machines out there. Instead of catering to JUST the SONY jockeys or JUST the Microsoft jockey's, put it out for ALL of the systems. Or, like I said before, just the PC...that way everybody can play it...

D3ADMaggot911
D3ADMaggot911

I can see it now ... GTA IV in a bundle with ps3, that will sell them Heh.... im gettin mine for 360 i cant wait to play it! and the new trailer comes out soon! YAY!

Link_Destined_1
Link_Destined_1

A GTA game not selling well will be the day that McDonalds stops making hamburgers.

JmorebideGarc
JmorebideGarc

Really, though. Does anyone honestly care about anything other than the release of GTAIV?

Homerj
Homerj

I hope T2 learns something from the financial debacle they find themselves mired in. If they had delayed only the problematic PS3 version, they could have gotten blockbuster sales through the holidays, and just picked up the potential million or so PS3 version sales late next year when they finally get it to run acceptably. I hope Epic learns the same hard lesson. All that SFB hype that they have spouted around for the last few months should get rewarded with average sales on the PS3 (probably not much more than 1million....the highest selling PS3 game so far took one year to almost hit 2mil worldwide), and near zero sales on the 360. If the people at Epic want to be raving Sony fan boys, thats fine....just dont expect the rest of the gaming community to buy their games.

Naganox777
Naganox777

This is my most anticipated 360 game, so Take-Two, don't disappoint us and delay again.

bigmick07
bigmick07

As long as GTA IV is good i will buy it. I hope the company doesn't shut down because otherwise there will be no more bioshock/GTA sequels (that are good)

Darkman159
Darkman159

Mmmm... I mean, there are only a few ps3s out there and most of them are in hardocre sony games's house. I doubt most of them dont buy this game, but then again, there are too few ps3s out there

DDSolar
DDSolar

wahahhaha imposible that gta4 doesnt sell well enough

mashom
mashom

This is JOKE, GTA titles are marvelous, how can this be ?

ihma
ihma

idk about the ppl saying GTAIV will be a best seller, i mean look at manhunt 2... cant realy say one way or another anymore

GIJoeSnake
GIJoeSnake

lol I read that to-> (I think it was gametrailers.com) that the game is basically finished and that the reason why it hasn't been released yet was because of the fact that they wanted to wait until the user basis of the PS3 expands a bit. It is thanks to the price drop on nov 1st... i don't know if it's true but either way when it comes out it's going to be better than it would have been in october...it also said they had a harder time with devolping for the ps3...

thorsen-ink
thorsen-ink

PacoL250 So how is this a rumor if Zelnick himself debunked it anyway... **** B/c rumors of a sale persist. This section is called "rumor control" so when the chairman of a company puts a rumor to rest, we post that sort of thing here to control said rumors. Q.E.D.

cyn0113
cyn0113

I can't stand the grand theft auto games (just personal preference folks, I'm not bashing them) and I even know it'll be huge. As long as Take Two avoids further scandals like the Hot Coffee issue they'll do well.

W_Birkin
W_Birkin

GTA 4 is gonna pwn on my 360 :)

DanielOcean11
DanielOcean11

webdoom: "GTAIV will go platinum in the first hour of release" XD. Seriously, who wrote the copy on this article? Has to be a non-gamer.

FlauM
FlauM

Even if GTA IV doesn't live up to its expectations, people are still going to buy it just because it's a GTA title... So sales figures shouldn't be a worry there lol

KingKoop
KingKoop

They won't go up for sale not with such things like ~Bioshock, GTA IV, Manhunt 2 etc they're too good IMO.

webdoom
webdoom

GTAIV will go platinum in the first hour of release :P

webdoom
webdoom

i lol'd at that last bit.. "...GTAIV...does not prove to be a best seller." when has or when will GTA not be a best seller?

DonutTrooper
DonutTrooper

So we all need to just wait for GTA4 to come out, no biggie. It's the same as waiting until the PS3 has its flagship titles on store shelves. If you cannot agree with this you should seriously GTFO of Gamespot.

sickside6
sickside6

GTA 4 isn't going to be as good as everyone thinks. they're aiming too high

agustbestur
agustbestur

GTA 4 will defenetly sell more that the previous games

devil_1994
devil_1994

gta 4 wont sell too much :o iam surprised thats impossible this game will sell like crazy

sonic2010
sonic2010

i know GTAIV will be a huge game and i know that PS3 can hadel it with the maximum 50gig bluray disk. but is dvd9 gona hold the the hole game in 1 disk? anyone got an idea?

KoRn_FaN1
KoRn_FaN1

Because of the delay of GTA IV many people are mad and there's a chance it might never be released just like they did to BULLY.The game never came out for XBOX due to very detailed and graphic reasons. If SONY decides to get GTA IV then Microsoft will lose its rep.

Zoomer30
Zoomer30

Probably a given at this point that GTA IV is never gonna ship.

Fauij
Fauij

its there fault they delayed GTA 4, most anticipated upcoming game

halosniper52
halosniper52

gta 4 will sell so much we all know and love that so hurry and get it out

K_M82
K_M82

The article says 'However, if GTAIV slips further or does not prove a bestseller, that status could likely change.' It's almost impossible that GTAIV would not be a best seller. GTAIII, GTA:VC, and GTA:SA are all best seller. With that sort of pedigree how can GTAIV not be a best seller?

mathias897
mathias897

GTAIV is going to be HUGE, I doubt it won't be a best seller

shooter1213
shooter1213

man i wish sony would spend some money so grand theft auto comes out for ps3 earlier then x box 360

VegetaMaelstrom
VegetaMaelstrom

Lets be honest here. EVERY company is on the market and available to potential buyers if the price is right whether their chairman says so or not. It all depends on what price they want to sell their souls for (Bioware anyone?)