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Take-Two Takes Independent Stance

jmanalang
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Posted October 2, 2008 - By jmanalang

After months of potential acquistion from third-party megapublisher Electronic Arts and other interested companies, the publisher behind Grand Theft Auto IV, Take-Two Interactive, concluded that the company will remain independent. Take-Two is also the parent company of 2K Games, the publisher behind the hit FPS title, BioShock.

Company CEO Ben Feder in a statement:

"Our strong cash position--with no debt and an undrawn $140 million credit facility--gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect."

However, this coming February 2009, the Houser brothers from Take-Two's Rockstar Games studio could potentially leave the company due to their contracts expiring with the company, according to Wedbush Morgan analyst Michael Pachter. The Houser brothers have been a significant part in the success of the Grand Theft Auto series.

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Tags: Videogames
Take-Two Takes Independent Stance
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