Take-Two: possible sale of company!!

[Dillweedshake]

from the press release

Take-Two Interactive Software, Inc. announced today that the Company has postponed its annual meeting scheduled . The meeting will be held at a time and location to be designated in a revised Notice of Meeting, to be issued later today. The current record date of February 26, 2007 for the annual meeting remains unchanged.

The Company also announced that, in light of the expressed intention of a shareholder group to act by written consent under certain circumstances, the Board of Directors has set a record date of the close of business on March 29, 2007 for the purpose of determining the shareholders entitled to act by written consent.

The purposes of the Board's actions are 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, including a possible sale of the Company.

So in other the words, shareholders are trying to seize control of the company. I'm wondering if they do sell the company,who will buy it. Would it be a good move for Sony,or m$ to buy it.?? EA perhaps(god no!!) GTA console exclusive? what will happen to all the companies(and their games) under Take-Two. ........... Bioshock better not be delayed!!

[GibtheGamer]

Bio-shock is being made by 2K games, so no worries there. Well, Take 2's controversy will probably make it an easy sell, cause all publicity, whether good or bad, is still publicity. People know their names.

[L3e]

I doubt it will matter, but Rockstar, 2k Games, and 2K Sports are all subsidiaries of Take 2.

[Crusader]

I guess their gettin' while the gettin's good...

[GibtheGamer]

I didn't know that 2K was a subsidiary of Take 2!!! But actually, I think all the above are actually subsidiaries of 2K, not the other way around...that's what their website displays, anyway. Of course, I could be wrong...

[ThE_FrEaK]

Yeah, L3E is correct. Rockstar and 2K Games/Sports are both subsidiaries of Take-Two Interactive. I'd imagine that the likelihood of the company being sold is about zilch at this point. What happened is that a group of investors obtained stake share in the company which caused a shake-up with the board of directors. They, in turn, voted to oust the old CEO, Paul Eibeler, who had been deemed responsible for the company's lack of expected earnings in recent years (as well as the "Hot Coffee" controversy which occurred under his leadership). He was replaced by Ben Feder, a former News Corp exec. as the new CEO and Strauss Zelnick (former CEO of BMG) as chairman.

[GibtheGamer]

Wow, did you just research that, or did you have that in the memory bank? That's news to me...

[ThE_FrEaK]

Oddly enough, neither. Our finance teacher, last quarter, gave us questions on the final over the very subject. We were required to read a Wall Street Journal article about the Take Two shake-up which she gave to us as an example of the topic which were studying at the time. One of the questions on the final required that we know exactly which financial firms were involved with the take-over.

[ThE_FrEaK]

.

[ThE_FrEaK]

How insightful. Thank you.