GTA IV vindicates response to EA, says Zelnick

Posted May 1, 2008 at 3:41PM EST by QJ Staff

Listed in: PS3, Xbox 360 Tags: Electronic Arts, Sony, Verbatim

GTA IV - Image 1

Grand Theft Auto IV has finally been released for both the PS3 and Xbox 360, and with its runaway success on both the critics and the fans, Take-Two is nothing short of giddy about it.
And with good reason, too: after the release of GTA4, Take-Two stock has been closing on prices higher than Electronic Arts' last revised offer of US$ 25.74 per share. And they've got something to say about that, too.

So, what did Take-Two say to EA? That the success of Grand Theft Auto IV pretty much justifies their decision to make the potential buyer wait. Take-Two chairman Strauss Zelnick's exact statement about this entire matter, verbatim:

The critical and consumer response to Grand Theft Auto IV vindicates our strategy of waiting until the launch with regard to EA's offer.

Of course, EA has their own comeback at this. Their rebuttal:

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. All of that was factored into our offer of $2 billion.

Statement above was made by one Jeff Brown, a spokesman for Electronic arts. Can you say stalemate, then? We sure can, but there's no denying it that Grand Theft Auto IV has indeed given the stock price of Take-Two a shot in the arm. Here's hoping that this draw breaks soon, though. Updates as we get them.

Buy: [Grand Theft Auto 4 (PS3) (Xbox 360)]

Via NY Times

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This is about gaming or the standards and ethics of a company.....it's all about money and the shareholders.

GTA has given Take Two some life for now, but shareholders and stocks will not be happy if TT does not come up with a plan for the future and some potentially big games so that shareholders do not start selling, and others will start buying....

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GTA IV vindicates response to EA, says Zelnick

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