Speaking to the BBC, EA chief executive John Riccitiello was clear that the primary interest EA has in acquiring Take Two Interactive is the company's strong roster of development teams, specifically that of Rockstar Games.
"The big headline here is that our primary interest is in Rockstar and the intellectual properties around Rockstar," Riccitiello said as the April 29 release of Grand Theft Auto IV looms in the distance. Sports gamers have long stated their frustration with the attempted acquisition because it would remove EA's only competitor in the simulation-sports market. Riccitello explained that the sports angle was a secondary thought, "sports games are secondary consideration here," he explained.
While Take Two had declined the initial offer from EA for $2 billion, the acquisition has recently gone hostile. In order to purchase the company from under Take Two executives, EA has put in a cash tender offer to purchase all outstanding shares of common stock for $26 each on last Thursday targeting shareholders. Take Two executives have since asked shareholders to hold out on the offer, which is set to expire on April 11 - a mere 18 days before the launch of the GTAIV cash-cow. With the news that EA is targeting new shareholders that are looking to unload a headache, this news looks to get more interesting by the day.
[Read, Joystiq]
[Read, Next Gen]
Reader Comments (Page 1 of 2)
3-17-2008 @ 4:22PM
Deck said...
Damnit EA, just stop already. Please!
Oh and of course sports title's are a secondary priority. They continue to chug out the same shit every year. Updated rosters, maybe a tad better graphics but they are essentially the same thing over and over.
I just hope that T2 can hold out a little bit longer...
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3-17-2008 @ 4:23PM
Vader582 said...
This is not going to end well.
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3-17-2008 @ 4:26PM
Tapio said...
Drop it ea..
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3-17-2008 @ 4:29PM
Jcarpio said...
Good Bye 2k Sports.. You had a good run.
I guess my days of playing sports sims on console is coming to an end.
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3-17-2008 @ 4:32PM
mcwattersm said...
When is this going to end? EA is just going to buy out all minor and major company that even considers making a console game until it has no competition and can just spit out shitty games until consoles die in 10 years.
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3-17-2008 @ 4:34PM
SadisticHam said...
Just drop dead EA. Whats worse is they make out like there doing people a favor. Claiming they improve games.
Sure, the first game they bring out under you might be ok but then you leech the shit out of it non-stop and the game gets crapper and crapper every single time. The EAffect, just piss off and die somewhere, let all those devs go so they can make real games again and not shit.
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3-17-2008 @ 4:47PM
kyle said...
ea seriously, jus stop it, take two is a great company, especially for rockstar games like gta, who knows what would happen when ea owns take - two and i dont want 2 see that
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3-17-2008 @ 4:52PM
Neuromancer said...
This is just to depressing for words. If it was just EA trying to buy Take Two as a private company Take Two could just tell them to pound sand. But as a public company with shareholders who (presumably) care more about their stock going up than belief in a product, there's no hope.
Someday all there's going to be left is EA and 99% of all games will be pure shit.
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3-17-2008 @ 4:59PM
Adam said...
The only reason ea is where they are is idiots that bought there games.Im sure everyone here is guilty of that.
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3-17-2008 @ 5:02PM
rell.mc said...
This can only turn out bad.
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3-17-2008 @ 5:03PM
Jay said...
EA is starting to look a lot like the company that everyone hates and churns out unfinished products *cough* 360 *cough* vista *cough*
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3-17-2008 @ 5:06PM
stinger503 said...
Seriously all the smaller gaming companies that aren't EA need to get together and form some sort of gaming company alliance. Otherwise we're going into a dark age of gaming. Honestly EA is to gaming to what the Catholic Church was to the Dark Ages.
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3-17-2008 @ 5:15PM
Bluemanrule said...
EA started off fine. Coach K Basketball is still the greatest basketball game ever. But....T2's shareholders may not accept the offer and pass. That option is still there. Besides, their stock price will increase substantially after the game hits. According to analysts, 6 million GTAIV projections in year one give Rockstar a strong basis to dispute valuation.
As a businessman myself, I personally would reject the offer and take the risk on a risk-free GTAIV. Don't even get me started on DLC. On another note, the 2k sports series is very popular and I'm sure EA did not include the consumers protesting anything EA and all its products.
If EA is serious, that price offer will return around $28.5 or $29 per share.
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3-17-2008 @ 5:21PM
Bluemanrule said...
EA started off fine. Coach K Basketball is still the greatest basketball game ever. But....T2's shareholders may not accept the offer and pass. That option is still there. Besides, their stock price will increase substantially after the game hits. According to analysts, 6 million GTAIV projections in year one give Rockstar a strong basis to dispute valuation.
As a businessman myself, I personally would reject the offer and take the risk on a risk-free GTAIV. Don't even get me started on DLC. On another note, the 2k sports series is very popular and I'm sure EA did not include the consumers protesting anything EA and all its products.
If EA is serious, that price offer will return around $28.5 or $29 per share.
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3-17-2008 @ 5:26PM
Adam said...
@Jay
Cough *vista* Cough *360*
Yeah atleast sony decided watching movies was more important than gaming in a GAME console.
As for vista it aint perfect but its better than shit like linux where the average user has to take a course just to install software.Not to mention shit like apple where its lack of games and programs kill it.
Ill take windows over any other os out there.
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3-17-2008 @ 5:28PM
AFAI said...
F U EA.
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3-17-2008 @ 5:30PM
Brento said...
Wouldnt it be awesome if EA bought out GTA!!!! They could then make it strip it of every single feature before it's released and then re-release it every year and add a few features back. Also they could put in 12 cars for the entire game and make you people buy more cars in endless micro-transactions. They could reeeaallly make a bundle off this deal.
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3-17-2008 @ 6:01PM
TheBlahMasta said...
Come on now...EA taking over is probably the dumbest idea I've heard in a LONG time. EA has great games without needing to buy-out every competitor that just makes the games produced by both companies better. So, if EA were to read this, which I hope they do, don't take T2, leave them alone, stop trying to make the gaming industry a monopoly...
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3-17-2008 @ 6:04PM
Adam said...
I got a feeling this has to do with there whole console idea.They figure buy up the competition and ready releases for the home game console.Make a shit load of exclusives including gta games and they will destroy the competition.
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3-17-2008 @ 6:06PM
ZEBRA NINER said...
Meh... Business as usual. Unfortunately, the people in charge of any company feel passionately about money, and not the product they sell (no matter what they claim publicly). It's just a means to an end. That being said, it's all about money for both sides, not about fans.
It might be nice to pretend that EA is a big evil empire trying to consume the tiny company of Take Two to further it's dark grasp upon all that is good. It's also nice to imagine that Take Two holds its consumers above all else. When in reality, EA just didn't offer enough cash, and the people in charge of take two are also just as greedy.
The bottom line is the bottom line, and how many zeros are in it.
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