Games industry news, gossip, and more at Playthrough » Take 2

EA extends Take-Two deadline, for the third time

Playthrough — Mon, 19 May 2008 22:08:44 +0000

EA really wants Take-Two to hope aboard the mother-ship. So much so, they’ve extended their takeover offer deadline for the third time, this time giving Take-Two and their board until June 16th become one and plug in to the hive. Though EA still refuses to raise their offer of $25.74 a share for the Rockstar Games parent, many analysts are dropping the word that EA needs to suck it up and pony up a little bit more per share, in order to entice some of the more uncertain Take-Two stockholders. Take-Two recently hit paydirt again with the release of GTA IV, their trusty cash cow which seems to roll around every few years and a hundred million or so dollars later. (Via Gamasutra)

Take 2 Games: No alternative to being sold

Playthrough — Wed, 28 Mar 2007 16:15:14 +0000

An official statement from Take 2 has pointed out that an alternative course to the company’s sale has yet to be found, meaning that a potential gold rush will possibly be occurring over Take 2′s assets, namely GTA developer, Rockstar Games. An alternative seems unlikely at this point, with the statement going on to reveal that the board of directors believe that it is unlikely to present an alternative (to the sale) before the next general board meeting occurring March 29th, though discussions are ongoing. Time for Microsoft to open up that wallet, though the company has stated in the past it has no desire to purchase Take 2, I can see a healthy bidding war for the rights to Grand Theft Auto.

EDIT: I promise I’ll be brushing up on my native language (English) shortly ;)

Take-Two possibly up for sale as power struggle continues

Playthrough — Mon, 19 Mar 2007 14:49:52 +0000

Take-Two announced recently that it is evaluating new strategies, including the possible sale of the company, as an investor group continues it’s power grab of the Rockstar Games publisher. The announcement, which comes after TTWO postponed it’s annual board meeting is causing a little jump in the company’s stock price, causing investors around the world to hover their finger over that little “Sell” button.

Take-Two power struggle may prove entertaining

Playthrough — Thu, 08 Mar 2007 20:08:16 +0000

So it seems Take-Two investors have finally had enough. A group of investors at Rockstar’s mother company, who together own 46% of shares, is taking over the board and flushing senior management starting at the top, with CEO Paul Eibeler. The shakeup is boosting T2′s stock price, which is up over $1 per share as of this moment. Take-Two has been no stranger to controversy on pretty much every level, it just seems that investors have finally had enough of that controversy coming from the top. It’s a shame there won’t be a Rockstar shake-up, but, considering that’s how the bills get paid, I’d understand them not wanting to touch their golden goose.

Take Two discloses former CEO backdated stock options, industry shocked

Playthrough — Wed, 24 Jan 2007 23:29:32 +0000

Amid more threats of NASDAQ de-listing, Take Two, the publisher behind Rockstar Games and the Grand Theft Auto line of games, has disclosed their discovery that founder and former CEO Ryan Brant backdated multiple stock options over a six year period while head of the gaming giant. TTWO is no stranger to financial difficulties of course, but, this could mean even more problems for a company who was slowly rebounding from the destruction the infamous Hot Coffee incident reaped. Brant served as chairmen of Take Two up until 2004, and there appears to be proof of backdated options from 1997 through 2003. Take Two has not disclosed any restatements or accounting adjustments, but, we’d expect some news very shortly.

Read more: Take Two discloses CEO backdating

Prey coming to OS X thanks to Aspyr

Playthrough — Tue, 05 Dec 2006 08:20:34 +0000

Where would OS X gaming be without Aspyr bringing some of the best games to the platform for us poor and under-represented Mac gamers? Nowhere, that’s where! Now, we have Prey to look forward to according to a recent press release from Aspyr. The mystical sci-fi thriller is currently under development by Aspyr thanks to a publishing agreement with Take Two / 2K Games and is anticipating a January 2007 release date.

Read more: Prey coming to OS X

Take-Two receives NASDAQ listing notice

Playthrough — Sat, 04 Nov 2006 15:51:58 +0000

Oops! Take-Two seem to be having trouble again with NASDAQ as they’ve recently received a Staff Determination letter informing them that they are once again not in compliance with the filing requirements for listing on the NASDAQ Stock Market. I understand it’s difficult when you’re swimming in so much money, but come on folks.

Though the rumor mill lives off of Take-Two’s notoriously bad treatment of any employee not above middle management, is it really that hard to hire a team capable of actually keeping your finances inline? I guess so. But worry not, Take-Two are meeting with NASDAQ soon to clear everything up and present their plan for achieving compliance. Whew, it’s good to know TTWO management won’t have to give up their party penthouses anytime soon and can continue their poker game of life off of TTWO’s troubled dime.

Official press release from Take-Two after the jump..

NEW YORK–(BUSINESS WIRE)–Take-Two Interactive Software, Inc. (NASDAQ:TTWO – News) today announced that it has received a NASDAQ Staff Determination letter indicating that the Company is not in compliance with the filing requirements for continued listing on The NASDAQ Stock Market as set forth in Marketplace Rules 4350(e) and 4350(g). Marketplace Rules 4350(e) and 4350(g) specify that the Company timely solicit proxies and hold its annual shareholders meeting.

As previously announced, the Company received a notice of non-compliance from NASDAQ resulting from the Company’s delay in filing its Quarterly Report on Form 10-Q for the quarter ended July 31, 2006 and the Company intends to file its Quarterly Report on Form 10-Q for such quarter as soon as practical after the Special Committee concludes its investigation of the Company’s stock option grants and the Company and its independent auditors complete any related accounting review.

A meeting with the NASDAQ Listing Qualifications Panel has been scheduled and the Company intends to address its plan for regaining compliance with Marketplace Rules. The Company’s shares will remain listed under the ticker symbol TTWO on The NASDAQ Global Select Market pending a decision by the Panel.

About Take-Two Interactive Software, Inc.
Headquartered in New York City, Take-Two Interactive Software, Inc. is a global developer, marketer, distributor and publisher of interactive entertainment software games for the PC, PlayStationÂ® game console, PlayStationÂ®2 and PLAYSTATIONÂ®3 computer entertainment systems, PSPÂ® (PlayStationÂ®Portable) system, XboxÂ® and Xbox 360(TM) video game and entertainment systems from Microsoft, Nintendo GameCube(TM), Nintendo DS(TM) and Game BoyÂ® Advance. The Company publishes and develops products through its wholly owned labels Rockstar Games, 2K and 2K Sports, and Global Star Software; and distributes software, hardware and accessories in North America through its Jack of All Games subsidiary. Take-Two also manufactures and markets video game accessories in Europe, North America and the Asia Pacific region through its Joytech subsidiary. The Company maintains sales and marketing offices in Cincinnati, New York, Toronto, Geneva, London, Paris, Munich, Madrid, Milan, Sydney, Breda (Netherlands), Auckland, Shanghai and Tokyo. Take-Two’s common stock is publicly traded on NASDAQ under the symbol TTWO.

Major retailers in the UK refuse to stock Bully

Playthrough — Thu, 19 Oct 2006 15:01:57 +0000

“Major” electronics retailers, PC World, Currys and Dixons are refusing to stock Rockstar’s latest masterpiece, Bully or Can-whatever whatever edit as it’s known outside of Americonia. All of the retailers are owned by one conglomerate who states that Edit doesn’t fit with their family-friendly image, but they will continue to enjoy a good relationship with Take Two and Rockstar Games. Which is evident since all 3 stores are advertising pre-orders for Grand Theft Auto: Liberty City Stories for the PSP, a title which apparently DOES fit in with what may be one of the most twisted definitions of “family-friendly’ I’ve ever heard. And yes, this is another Rockstar-related story, sheesh, you’d think I used to work for them or something…

Rockstar and Take-Two getting sued again

Playthrough — Wed, 27 Sep 2006 12:45:23 +0000

Jack Thompson once again wastes lots of people’s time and tax money, this time filing a ‘pioneering’ wrongful death suit in New Mexico against Sony, Take-Two and Rockstar Games. The suit is on behalf of the relatives of a family slain on Sam Donaldson’s ranch earlier this year, when a 14 year old boy killed his family after his father hit him for not cleaning horse stalls fast enough. The young boy alleges his father had abused him for years, but that was all forgotten by Jack Thompson, who instead of addressing the fact that an abused child resorted to such desperate lengths to escape further abuse, grandstands and tries to buy himself and his twisted ideals more air time on the evening news.

A Tribe Called Quest reunite for 2K Sports’ Bounce Tour

Playthrough — Fri, 22 Sep 2006 22:57:01 +0000

The best move Take Two / 2K have ever made? Quite possibly. After 8 long years of hibernation, the Midnight Marauders, A Tribe Called Quest, have reunited for over a dozen dates of the annual 2K Sports Bounce Tour. All 3 original members are back, Phife Dawg, Ali Shaheed Muhammad, and Q-Tip, as well as a few new remixes from Dan the Automator and an appearance in the game 5they are promoting, NBA 2K7 from 2K Sports, a publishing label under the Take Two house.

Read more2K Sports’ Bounce 2K7 Tour