Take 2 faces potential takeover
- March 12, 2007 12:27 PM PST
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Famed GTA publisher Take Two is in danger of possible takeover after upcoming general shareholder meeting
By Corrine Zuniev
Following its upcoming yearly general shareholders meeting, publishing company Take Two Interactive is in danger of changing drastically, to the point of being sold off as a whole or in parts.
In his recent CNN/Money column, contributor Chris Morris states that several company insiders foresee a rebellion by shareholders, whose purpose is to unseat the current board of directors, will be successful.
These rebellious shareholders control 46% of Take Two's shares, and their unhappiness may be the result of financial and PR issues that have plagued the company. The investors could remove the group, including CEO Paul Eibeler.
Morris' sources say that if this took place, Take Two, publisher of the popular Grand Theft Auto series, would be sold. With such games under its belt, many could be willing to purchase the company. Said to be interested is Rupert Murdoch's News Corporation, which has been eyeing the videogame industry for a while. The corporation once showed interested in purchasing Electronic Arts, but declined due to costs.
Another possibility for Take Two would be the selling off of parts of the company, perhaps even selling off everything but the hugely popular Rockstar Games branch, which has put out such famous as Grand Theft Auto, Bully, and more.
The Take Two publishing company will hold its annual general meeting on March 23, where the future outcome of the company will be decided upon
