Take-Two's Strauss Zelnick on takeover deal, company consolidation |
After Take-Two Interactive rejected Electronic Arts' US$ 2 billion dollar takeover bid, there have been quite a number of speculations regarding the decision. Strauss Zelnick, the executive chairman of TT Interactive recently gave a simple answer on why they didn't take the offer: the shareholders.When asked by The Hollywood Reporter, Zelnick pointed out that they are here for the shareholders. EA gave a specific offer, and they rejected it. However, this doesn't meant that Take-Two's chairman doesn't see the value of consolidation in the gaming industry. In fact, he even expects it:
I think we can expect consolidation. I'd rather not speculate on the nature of value creation. It has a lot to do with the capabilities of individuals and the goals of employees. This is not just a math lesson, this is a creative enterprise.
Still, Zelnick posed a few important questions that he feels have to be answered before a company even decides to consolidate. In the same statement, he reiterated the need to take care of the stakeholders of the company:
Does consolidation create better games for consumers? Does it create better careers for the creatives? Those questions are just as important. If all stakeholders aren't taken care of, then none of the stakeholders will benefit.
At this point, many are probably wondering what's next for the company. Well, to answer your question, we'd like to leave you with some final words from Zelnick.
We've been at Take-Two only for 10 months and are really proud of the progress we've made. And we think this company has a really bright future as an independent company. In the absence of an opportunity that our shareholders value more than this approach, that's our business model.
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Comments [refresh]
this guy is worse than Harrison. I don't know why he won't just come out and say, "We haven't finished squeezing every last drop out our IP yet" or he could have said, "Weee...more stock options for me." Like this guy cares about gaming.