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Thread: 4 2K investors plan board takeover

  1. #1
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    4 2K investors plan board takeover

    Quote Originally Posted by Reuters
    Investors who own 46 percent of Take-Two Interactive Software Inc. unveiled plans to take over its board and oust the CEO, sending shares of the "Grand Theft Auto" video game maker up as much as 19 percent on Wednesday.

    Take-Two management has been under fire for years for a series of issues, ranging from overstating revenue to problems with options grants. The company regularly failed to make financial targets and spawned a national controversy due to undisclosed sexual content in one of its hit games.

    The shareholder group, which includes OppenheimerFunds Inc., S.A.C. Capital Management, Tudor Investment Corp., D.E. Shaw Valence Portfolios and ZelnickMedia Corp., is seeking control of the board, according to a regulatory filing.

    "Replacing the board is a good thing. I think it's very healthy to flush everybody," said Wedbush Morgan analyst Michael Pachter, who has a "sell" rating on Take-Two shares.
    Read the rest here.

    Here's hoping it doesn't have an adverse affect on Irrational.

  2. #2
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    I would think that it would take some time for the change in leadership and dicision making at the top to trickle down to irrational's level, so I dont think we should see much change.

  3. #3
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    Exclamation Cause for Concern? Management change at Take 2

    SAN FRANCISCO/NEW YORK, March 7 (Reuters) - Investors who own 46 percent of Take-Two Interactive Software Inc. (TTWO.O: Quote, Profile , Research) unveiled plans to take over its board and oust the CEO, sending shares of the "Grand Theft Auto" video game maker up as much as 19 percent on Wednesday.

    Take-Two management has been under fire for years for a series of issues, ranging from overstating revenue to problems with options grants. The company regularly failed to make financial targets and spawned a national controversy due to undisclosed sexual content in one of its hit games.

    The shareholder group, which includes OppenheimerFunds Inc., S.A.C. Capital Management, Tudor Investment Corp., D.E. Shaw Valence Portfolios and ZelnickMedia Corp., is seeking control of the board, according to a regulatory filing.
    http://today.reuters.com/news/articl...c=66&type=qcna

    Seeing as BioShock is one of 2K's more risky titles coming out, I wonder if it's going to be affected by this...

  4. #4
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    Quote Originally Posted by Big_Daddy View Post
    http://today.reuters.com/news/articl...c=66&type=qcna

    Seeing as BioShock is one of 2K's more risky titles coming out, I wonder if it's going to be affected by this...
    sry, you're insane. Bioshock is a triple A (AAA ) game which is as much important as a GTA4 or a Halo3 for the Xbox360. Even if Bioshock would be crap, it would sell like crazy.

    No, no, no Bioshock isn't a risky one.

  5. #5
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    And beyond that, 2k has probably already spent such a hueg load of money into the project, that cancelling it due to "riskyness" would be... Unwise at best.

  6. #6
    On one of the 1up Yours podcasts in the last week or so John mentioned that Bioshock was actually beating GTA4 in a poll of the year's most anticipated games.

  7. #7
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    Biosock is so close to release

    It's so close to release that I wouldn't be too too concerned about it as a game. That being said, if the 2k management becomes more conservative it may not bode well for future projects. Remember, they OWN irrational now, and this may potentially impact future projects they have in mind.

    Certainly, the business men have to manage the business side of funding games, but if they make a move to stifle creativity in exchange for safe and tested formulaic games it may be a obstacle to future games the guys at irrational planned to make. IF bioshock is the success we all hope it to be, there will certainly be sequels, well funded sequels, but what about their "next" ideas which may be a departure from the bioshock formula? They may never be made.

    Of course time will tell all.

  8. #8
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    Plus, a more conservative owner might not be too keen on more ideas that result in a game that could be dubbed "Little-Girl-Killer-Simulator" by the Jack T's of this world. Yes I know, it's just one little aspect of the game.
    But we all know that this has been sort of an taboo that hasn't been touched upon by games so far. Heck, not even Oblivion had child characters in it....

  9. #9
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    I hope and pray to the game gods that this does not effect the game.

  10. #10
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    Money vs. quality. Money will always win. Therefore I promise to everyone that if I become rich, I will make games, not to make money, but to make a great game. The possibities become endless when there is no budget or deadlines. That's what has killed so many good ideas in the past. Fable is my prime example of broken promises for money's sake.

    (Yes, I do realize how unrealistic this is. I can dream.)

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