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Take-Two Interactive considers selling company

Posted Mar 19, 2007 at 3:49AM EST by QJ Staff

Listed in: News, Titles Tags: NASDAQ, Paul Eibeler, Ryan Brant, Take-Two Interactive

Take-Two Interactive plans to sell company - Image 1

We all know that the Grand Theft Auto series has somewhat been the saving grace for Take-Two Interactive. Despite that, the company is still beset by a lot of problems and issues. Never mind the problems involving Jack Thompson, the issues we're talking about now are the ones coming from within the very walls of the company itself.

A couple of days ago, we reported that there are plans to take over the major video game and publisher. The former Chief Executive Officer (CEO) Ryan Brant was removed from office because he was found guilty of backdating stock options. Current CEO Paul Eibeler and other top honchos are still not secure in their posts.

It is in this light that Take-Two Interactive cancelled its scheduled annual meeting on March 23 and moved it to March 29. The reason the company gave is "to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders."

The official notice explained that the best alternative course of action as of now is a possible sale of the company. To make things more complicated, the notice mentioned as well that "there is no assurance that any specific alternative proposal will be forthcoming."

It seems that this announcement was taken very well by market players in pre-market trading. Immediately after the notice was circulated, the company's NASDAQ-traded shares went up almost to US$ 22.26 from US$ 1.50. Those who are involved in the planned take-over include companies Oppenheimer Funds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management, and Tudor Investment.

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Millions of X360 console owners were so surprised and upset after this year’s GDC expo because PS3 owners got relatively so much more amazing things.

Bungie's official spokesperson said that Halo 3's retail version (final product) will look much inferior to Gears of War in the graphics department. He said that GoW will have incomparably better graphics quality over Halo 3. Halo 3’s art direction is for simpleness and cleanness. There’re alpha videos and screenshots of both Resistance and Gears of War available at IGN and GameSpot; unless you are blind, you will fully realize that alpha-build screenshots are almost (90%) identical to the screenshots of final build (retail product). Bungie has released pre-alpha screenshots a while ago; then they released alpha-build screenshots. Majority of comments written in forums say that those Halo 3 screenshots look mediocre or just poor. Go to 1Up.com. Game reviewers at 1UP were exclusively invited to Bungie; these folks actually played Halo 3’s alpha-build. These game reviewers said in an article that they think Halo 3 doesn’t look neither poor nor impressive. The reviewers at 1Up also mentioned in that article that Halo 3 just looked so-so.

Only a few people know about the truth behind the above reason. Halo 3’s final (retail) version will exactly look like Halo 2.5 or Halo 2: Episode 1; and this is a flat fact. Halo 2 was made by using Renderware game & graphics engine and then it (Halo 2) was released at the end of 2004. Renderware was still famous back then; however, Renderware started to become crappy and unpopular since 2005 because this engine can’t even be compared to other better engines. Since 2005, most developers have used Havok, Source, Unreal, Offset or CryEngine which are far superior to Renderware. It was announced that Bungie has been making Halo 3 based on Halo 2. They are not making Halo 3 from scratch. They are upgrading and heavily modifying Halo 2 to make Halo 3. Bungie can save so much budget and development time by taking this method.

Killzone 2 is being made from scratch. Because Killzone 2 is a totally brand new game which is only made for the PS3 hardware, Killzone 2 can use most possible and potential power of the PS3. There’s an article at GameSpot which says the impression of Killzone 2’s actual footage. Go and read unless you are illiterate. That article is written by game reviewers at GameSpot, and the reviewers say that Killzone 2’s actual footage was shown at this year’s GDC; and the vid was extremely impressive and technically extremely advanced.

Killzone 2 must be super good because the budget for it is $21 million when Gears of War needed only $9 million.

Gran Turismo is world's most popular racing game in racing game history based on the total number of copies sold. Polyphony released Gran Turismo HD for the purpose of PS3's tech demo at the end of 2006. People around the world became so surprised because Gran Turismo HD was just good (like 75/100). Gran Turismo was supposed to be 95/100 just like all the previous GT games. Then later, Polyphony officially said GT HD was made by upgrading the PS2 version of GT 4. Yes, Gran Turismo HD looks just good; however it doesn't blow anyone away. Now, Polyphony is making Gran Turismo 5 from scratch to take advantage of PS3's whole potential power. Now, listen, you guys at Bungie should take a leaf out of Polyphony’s book; Bungie must delete (scrap) all data related to Halo 3; then make Halo 3 from scratch from now on and release this game in 2012.

Actually, so many game developing companies which are friendly to Sony share technologies which are used to make PS3 games (OpenGL 2 based tech). These developers are world class companies like those ones which make Resistance, Warhawk, Heavenly Sword, MotorStorm, Tekken 6, Virtua Fighter 5, Metal Gear Solid 4, Killzone 2, Ninja Gaiden Sigma, Devil May Cry 4, White Knight Story, God of War 3 (confirmed), Gran Turismo 5, Final Fantasy XIII, Lair, Ratchet and Clank

# hmmm — Guest 2007-03-19 13:31

I actually do not think any of the console companies will end up acquiring it but Sony owns a huge chunk of the shares. So it does not seem too hard for Sony to go after it if they wanted to.

# what the... — Guest 2007-03-19 13:36

Why would Bungie say that their game is inferior to another game? Even if they really thought this they would never say that. You will have to provide proof of this, because that is pretty ridiculous

# Halo — Guest 2007-03-19 15:38

Halo is not about realistic graphics idiot it is about beautiful graphics and halo 3 does already look beautiful, halo 3 will be a better game than killzone 2 period and halo 3 will sell more copies than the ps3 hardware, the king of First Person Shooters will return this fall and remind the world why this game is the king.

# Sony needs to buy them — Guest 2007-03-19 16:13

With the news that Devil May Cry will not be a PS3 only game if Sony could buy out Take-Two the PS3 would get some nice game that would only be on the PS3. Sony really needs some good news and this would help them out alot.

# hmm — Guest 2007-03-19 16:40

Bill Gates Makes more in a year than Sony does in 5 years.

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Take-Two Interactive considers selling company

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