take-two interactive

Last year, Take-Two Interactive secured Los Angeles Lakers shooting guard Kobe Bryant to be the cover athlete of its annual installment in the NBA 2K series of basketball sims.

So how does the company top having arguably the best current basketball player in the world on its cover? It goes out and gets perhaps the best player of all time, a 14-time All-Star with six championship rings and five league MVP awards on his resume.

There go the last bragging rights NBA 2K5 cover star Ben Wallace had on Jordan.

Take-Two on Thursday officially announced that Chicago Bulls legend Michael … Read more

Take-Two Interactive Software reached a $3 million settlement agreement with the U.S. Securities and Exchange Commission, relating to charges that the game publisher engaged in falsifying financial records as part of a stock option-backdating scheme, the SEC announced Wednesday.

A settlement agreement had largely been expected, after Take-Two announced two years ago that it had received a notice from the SEC's staff that it would recommend that charges be filed against the company. Take-Two, at the time, said the company expected to pursue a settlement agreement, rather than fight regulators in court.

Take-Two agreed to the settlement without … Read more

Video game publisher Take-Two Interactive Software posted a wider quarterly loss on Wednesday and forecast a sharp drop in sales revenue for the current quarter.

For the quarter that ended October 31, the company best known for its Grand Theft Auto franchise reported a net loss of $15 million, or 20 cents a share, compared with a net loss of $7.1 million, or 10 cents a share, a year ago. Revenue increased 11 percent to $323.4 million on the sales strength of its Midnight Club: Los Angeles, NBA 2K9, and Grand Theft Auto IV titles.

The company predicted … Read more

Despite a failed deal with Take-Two Interactive, and a Spore DRM backlash, Eidos Interactive signed an agreement on Monday with Electronic Arts announcing exclusivity to multiregional distribution and licensing rights to selected titles from the their catalog for EA Mobile.

Now, Eidos will provide licenses to EA across all existing mobile channels and mobile devices for four key titles: Tomb Raider Underworld, Just Cause 2, California Games X, and Minesweeper, with a future option on the mobile versions of the majority of Eidos videogames for three years.

According to a news release, Javier Ferreira (VP of European Publishing for EA … Read more

Electronic Arts has abandoned its $2 billion bid to acquire rival game maker Take-Two Interactive Software, ending a seven-month takeover effort that turned hostile before the two companies entered private talks last month.

"After careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two," EA said in a statement Sunday.

The announcement brings to a close EA's long-running, but oft-rebuffed, effort to acquire Take-Two.

EA took its buyout offer public for the … Read more

Rival game makers Electronic Arts and Take-Two Interactive Software signed a confidentiality agreement after agreeing to hold private talks about a potential transaction, EA announced Monday in a regulatory filing.

EA, which had unsuccessfully courted Take-Two for six months, announced last week that it was abandoning its $2 billion hostile bid after Take-Two agreed to present its three-year product release schedule and financial forecasts to EA.

"As a result, EA does not intend to make any further announcements regarding the status of any discussions or negotiations with Take-Two unless and until discussions between EA and Take-Two have been terminated … Read more

Electronic Arts announced Tuesday it was extending its tender offer for rival game developer Take-Two Interactive Software to July 18, marking its third extension since launching its hostile bid in March.

EA, which is currently offering Take-Two investors $25.74 a share, said nearly 6.14 million shares have been tendered in, representing approximately 8 percent of Take-Two's shares.

In early morning trading, Take-Two's stock hovered at $26.35 per share.

EA's previous deadline for its tender offer was June 16, which came roughly a week after Take-Two reported better than expected quarterly earnings, thanks to its … Read more

Video game maker Take-Two Interactive Software announced better-than-expected earnings on Thursday thanks to recording-setting sales of Grand Theft Auto IV.

For the second quarter ended April 30, net profit was $98.2 million, or $1.29 cents per share, compared with a net loss of $51.3 million, or 71 cents per share, in the second quarter of fiscal 2007. Sales were up more than 160 percent to $539.8 million for the period, blowing away analyst estimates of $499.1 million.

The company also raised its forecast for the remainder of the fiscal year.

Take-Two said it expects to … Read more

Electronic Arts announced Monday that it is extending its tender offer for Take-Two Interactive Software to mid-June, marking its third extension in its hostile buyout attempt of its rival game maker.

EA, which, to date, has received commitments from Take-Two investors to tender roughly 6.2 million shares, or 8 percent of the company, has extended its deadline to June 16. Previously, the deadline was set for May 16.

Taking a jab at its rival, Take-Two Chairman Strauss Zelnick issued a statement: "This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13, 2008, which … Read more