Take-Two, publisher behind the Grand Theft Auto series, is in serious trouble as a company after shareholders accounting for 46% of the companies stocks have started an effort to remove the current CEO, Paul Eibeler, from office. From Hot Coffee to the illegal use of stock options, Take-Two has had a pretty rough few years, and it may now be out of the hands of the current board. Come March 23rd, we may see the beginning of the end for Take-Two.
According to a CNN Money report, there are two distinct groups of thought on what can happen when the shareholder meeting takes place: either the company will be sold or a new board will take control and sell off under-performing parts of the company. If the company is sold, there are several companies waiting in the wings to take a shot at acquiring the owners of the hot Grand Theft Auto series. UbiSoft is rumored to be interested, as well as Elevation Partners and, of all people, Rupert Murdoch(Fox News), among many others. However, that’s not the only outcome, as we could see an all-out asset sale.
If it comes to a new board selling off pieces of the company, Rockstar will stay, of course, but everything else is up for grabs. 2K games is probably the second strongest property owned by Take-Two, but wouldn’t be immune to possible sale. 2K sports, on the other hand, seems like a good nominee for sale, since Electronic Arts has exclusive rights to the NFL Players and teams for a few more years. Other, lesser properties, like Joytech, Jack of All Games and Global Star, would be likely candidates for the cut.
Either way, the Grand Theft Auto franchise will continue on strong, and the release of its first trailer on March 29th, should give the company a bit of a boost. It’s going to be an interesting couple of weeks for Paul Eibeler.
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