Take-Two: GTA IV's Launch 'Vindicates' Our Response to EA

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Take-Two: GTA IV's Launch 'Vindicates' Our Response to EA
Take-Two's chairman Strauss Zelnick couldn't be happier with the way GTA IV has been received and he feels it vindicates his company's waiting to deal with EA until after the game's launch.
Posted by James Brightman on Thursday, May 01, 2008


Take-Two has repeatedly said that they'd be willing to negotiate with Electronic Arts and other interested parties following the launch of Grand Theft Auto IV. Well, the game is out and Take-Two's stock closed up 16 cents to $26.73 on Tuesday, higher than EA's revised offer of $25.74. In midday trading today (Thursday, May 1), however, Take-Two's stock is back down to $26.01.

Nevertheless, in light of the overwhelmingly positive reviews and buzz surrounding GTA IV, Take-Two chairman Strauss Zelnick believes he's been "vindicated."

"The critical and consumer response to Grand Theft Auto IV vindicates our strategy of waiting until the launch with regard to EA's offer," he said in a statement provided to the New York Times.

EA's not phased one bit by this, though. EA and many industry analysts obviously expected Take-Two shares to receive a bump from the blockbuster launch of the game. "We've seen a share price above and below our offer and it doesn't change anything. We knew the game would be an extraordinary success," said Jeff Brown, a spokesman for Electronic Arts. "All of that was factored into our offer of $2 billion."

So for the moment, the two parties appear to be in a standstill. We'll keep you posted.