Take Two mulling sale of company
The financial news from video game mega-publisher Take Two Interactive has run the gamut from bad to horrible over the past month or so. First there was a report from analyst Michael Pachter that suggested selling the company's stock. Then there was a disappointing earnings restatement and a shareholder coup that sought to overthrow CEO Paul Eibler. Now comes word that Take Two is considering selling the company to pacify the group of angry shareholders.
Gamasutra is reporting that the Grand Theft Auto publisher has postponed its annual meeting from March 23 to March 29 to come up with alternative plans to present to the shareholders, which own a combined 46 percent of the company. One of the main alternatives mentioned in the official notice is "a possible sale of the Company." There's no guarantee such a sale will actually take place, but the fact that they're even considering it shows just how bad things are getting at Take Two HQ. Wall street seems to support the idea -- shares of the company were up 5.47 percent to $22 in early-morning trading.
[Via Xbox360Fanboy]
