strauss-zelnick-diary
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Take-Two bid adieu to Icahn, three board seats for $203.5 million
Tuesday 26 November 800 lbs. lighter after getting rid of Carl Icahn and his three boys (including that iCahn mini) from the board. It's gonna be trans-fat and pasta tonight, I'm tellin' you. Food consumed today: What. Ever. I. Want. Boom! Morning in the 36-degree city that never sleeps. But I slept well last night. Stood on my balcony as the sun was rising, took the top off my silk pajamas and let the energy of the universe fill me. I couldn't be happier Diary, Three years after washing up in my board room, it's time to say goodbye to Carl Icahn and his flotsam. It wasn't cheap either, Di. It cost $203.5 million to clean them up, which was the purchase of 12.02 million shares of stock at $16.93. Not a bad return for Carl, who bought the stock at around $8 a share in late 2009. "With our ample cash and strong expected cash flow, we are able to pursue a variety of investment opportunities, including repurchasing our Company's stock," I said, officially. But, honey, you should have seen the crown I was wearing while I said it. "On behalf of our board and management team, I would like to thank Brett, James and Sung for their support, dedication and service to our organization. They leave Take-Two better positioned than ever for continued success." ...Now, get out.
Take-Two appoints COO Karl Slatoff as president
Tuesday 7 May ? ? ? lbs. I never weigh myself on a day of celebration. Food consumed today: King Crab Legs in a bucket, like a boss! Late afternoon. New York. Manhattan. Red Lobster in Times Square. Dearest Diary, It's been ever so long, but I must put emotion to paper. I'm writing this from a men's room stall at Red Lobster because I couldn't hold it in any longer. Don't be vulgar, Di! I mean my emotion! The 8-K filing went public today, and it says Karl Slatoff is now president at Take-Two and I just had to tell you. Karl's been my chief operating officer since 2010 (when I became CE-O-O-Oh yeah!) and it was about time for him to take on another "newly created role" like last time. And since Karl is a kingly name, and heavy is my head that wears the crown, I figured we should go for king crab at Red Lobster. "But they don't serve king crab at Red Lobster, only snow crab," you say. True, but Karl and I – to honor the heritage of our first names – dressed up as Bavarian tourists in full lederhosen and we had a bucket of king crab legs served that I had flown in from Alaska this morning. The cook was quite amenable to the idea after I gave him an early copy of Grand Theft Auto 5. Anyway, next week we announce Take-Two's full-year financial results and between Borderlands 2, XCOM, our sports games and GTA at the end of this year, I'm thinking Karl and I can play German tourist more often. Promise to write to you more, Streusel
Virgin Pure water purifiers launch offensive against tap and bottled water in the UK
English entrepreneur and chairman of The Virgin Group Sir Richard Branson thinks that your tap water is dirty. So much so, in fact, that he's partnered up with Strauss Water to get one of his new purifiers into your home and onto your countertop. The colorful Virgin Pure T6 (£299, $466) can dispense 1.3 liters of chilled H2O per minute, or 1.4 liters of hot water that's stored internally. The T7 (£379, or $591) delivers a bit more swagger to your crib with its minimalist, tapered design that offers 50 percent faster cold water flow. It even gets a small power bump to heat your hot water more quickly than its less-expensive sibling. It all sounds well and good, but we'll really be impressed when Virgin crams one of these into its seatbacks in first class.
Take-Two's Zelnick regrets THQ quote
Friday 6 April175 lbs (That's 170 of muscle and five pounds of delicious Legal Seafood New England Clam Chowder.) Food consumed today: Chowdah! Chowdah! Chowdah!Early morning. Boston. I watched the sun rise this morning, contemplating regret and its place in business ... and the universe.Oh, Diary,I made a faux pas yesterday, which I understand is also known as a gaffe to those whose offices reside below the 20th floor of any office building. I was asked about the difference between that wandering camp of nomads at THQ and the Empire of Take-Two (and its kingdoms of Rockstar and 2K Games), and gave what I think was a very measured response. I may have overstepped when I said, "THQ won't be around in six months."Oh boy, did I stir up the hornet's next. THQ understandably wasn't too happy and reflexively responded that my "perception of THQ is outdated and inaccurate." Blurgh, Diary, I have to see THQ CEO Brian 'Feral' at the corporate mixers, so I had to play nice and offer up a cheese plate of mea culpa."While discussing our strategy I spoke out of turn about someone else's. It was inappropriate and I regret it," I told Game Informer.But, Diary. Come on ... between you and me. We both know the truth.XOXO,Nostradamuss
Take-Two's Zelnick thinks Zynga metrics are 'sketchy'
Wednesday 30 November 185 lbs of Ba-Zynga bashing awesomeness. Food consumed today: Nothing. I'm being fueled by music. Specifically, one song: "Eye of the Tiger." It's on repeat and nothing is gonna get in my way. Afternoon. It's brisk in NYC and I'm bringing the heat to Zynga. If that bubble won't pop on its own, I might as well start passing around a bottle of wake-up juice!
Zelnick planning on more Duke Nukem, figuring out tablet gaming
Tuesday 21 June I've had all scales removed from Take-Two HQ since becoming CEO. I have too much work to do and I can't be checking my buffness at every water fountain and copy machine (all of which had scale attachments). I do still check it after workouts and after a good cry, when I consume a pint of Chunky Monkey while reading Duke Nukem Forever reviews. Food consumed today: Don't know, trying to stay relaxed and groovy as CEO. Get in touch with my inner artist. Do I eat? Did I eat? Am I eating now? I don't know and I'm trying not to care. Morning. The light glistened off the Chrysler Building in such a magnificent way I grabbed a street artist to paint me a picture of it. New York.
Take-Two CEO Feder quitting to travel Asia, Zelnick to become CEO
Friday 29 October New British trainer at the gym tells me I'm 13 stone. That's better than 70-something kilos, but apparently I've put on weight. It's all my soon-to-be ex-CEO Ben Feder's fault. Food consumed today: Nothing, yet. But I'm sure the Federator is going to drag me out to McDonalds for lunch again (I do admit I love me a pair of McChicken sandwiches). The movie Super Size Me has nothing on him at the moment, he's taking in everything American he can before jetting -- you should see the pile of Jack in the Box Oreo milkshakes by his desk. Morning. Brisk autumn day in New York. Woe is me, Diary, Going to hold back the tears as I write this. My home slice, Ben Feder, is giving up his position as Chief Executive Officer of Take-Two to "travel Asia with his family for an extended period." I shoulda figured something was up, since every time we went out to a Chinese restaurant he would ask, "Do you think Chinese food is the same in China?" There is one benefit to the Federator leaving ... I'm gonna be CE-mutha-O! Tee-hee, Diary. Not gonna lie, it feels good to imagine myself as Capt. Picard: "Engage" all projects! Being Take-Two's Executive Chairman is great and all, but C-E-O! Anyway, one of my executive vee-pees, Karl Slatoff, will take on the "newly created role" of Chief Operating Officer. Oh Di, how silly is this "newly created role" business? Truth is, it hurt a little refilling the spot after my former COO Gary "Gar Bear" Dale left last year -- I left the door open for him and always set out an extra plate at dinner, just hoping he'd come back. Yeah, so, the official transition of all this will take place on New Year's Day 2011. Looking forward to having Feder show me the ropes of his job, but I don't think my body can handle doing it over lunch meetings at Mickey D's, Burger King and Wendy's every afternoon anymore. xoxo, ZelNicky
PSA: Not all Italian Americans are descended from Mafia 2
Wednesday 18 August Weight: Ugh. I don't even want to know what I weigh after inhaling that slice. Food consumed today: Do I really have to spell it out again? P. I. Z. Z. A. And I know for sure the guys running that joint aren't in the mafia or whatever. I don't even think they're Italian. Evening. Cloudy. A good night for the gym. Oh Diary, what to do about these UNICO National people? They've gone and denounced Mafia 2 as a "pile of racist nonsense" -- which is great to get some added publicity a week before launch. Lord knows this game has been in development for-ever. But still, to suggest the game will "indoctrinate a new generation into directly associating Italians and Italian Americans with violent, murderous organized crime" -- really? Mafia 2 is clearly a period piece. I mean, look at the cars in that game. Oh, and those clothes! What a riot! Frankly, and I don't think I'm alone here, when I think Italian American -- sure, I used to think The Godfather, and then it was The Sopranos -- but now it's GTL, you know? Those are good values. I mean, look just how far a strong body can take you. And who wants to walk around looking all pale? Which reminds me! I need to go schedule my dry cleaning to be delivered in the morning. TTYL! -Zelny
Carl Icahn now a 13.7% shareholder in Take-Two
Monday 22 March 70-something kilos. My kilo talk has gotten others thinking I'm moving the company to Canada, but I <3 my NYC. Food consumed today: No low-fat blueberry muffins today on the cart. I only like the tops anyway. Heard some pleb in the office talking about Blueberry Muffin Tops as a cereal. Tried some. I'm not opposed. Afternoon. The beautiful weekend has shifted to gloomy overcast to fit my mood. New York. Cherished Diary, What is the iCahn up to? Carl Icahn previously put three of his specially selected associates on the Take-Two board (including iCahn-mini, Brett Icahn) after he obtained 11.3 percent in company stock. Now he's bought another 710,840 shares, which I estimate to cost about $7.1 million, giving him 13.7 percent of Take-Two stock. The confusing part, Diary, is why? He has over 10 percent already and three iPods on the board, the incremental increase in stock isn't anything big -- it's just, weird, you know? Of course, you know! Diary, that's why I can always trust you! I just wish I knew if he was gearing up to push for a buyout or trying to show more faith in the company now that he has boys on the board. I wish I knew. I really, really wish I knew. xoxo, Strudel [Via IndustryGamers]
Take-Two to nominate three new board directors; it's all about the iCahn
Thursday 21 January 70-something kilos. I've given up on weighing in lbs, kilos are so much kinder. Food consumed today: Anything that makes me look suave and like I know what I'm doing. Think I'm on my fifth martini, but I lost count after the fourth. Early morning, sun looks lovely coming out of the west ... north? ... really need to cut back on the martinis. New York. Dearest Diary, can I call you Di? Good. Oh, Di, why does Carl Icahn have to be such a meddler? You know what, I'm gonna start calling him iCahn, like an obnoxious Apple product. Hehe, iCahn. So, this guy ... this iCahn, he comes in and buys up 11.3 percent of the company a couple months ago and now he wants to put three of his own iBoys on the board of directors -- actually, I'm pretty sure one of them is an iCahn-mini: Brett Icahn. I ain't mad, Di. Let iCahn have his iPods on the board, I've been doing my thing since taking over Take-Two in 2007. He's got the right to put some guys on the board and shape things, bring balance -- distract some monkeys on my back. Who knows, maybe the iCahn boys will bring healthy skepticism and deliver productive ideas to improve profitability. Plus, what's the harm? If the winds take iCahn to another project and he holds less than five percent of the company stock, the iPods agree to leave immediately. Just another day in the biz. I kinda miss fighting with EA, this is so mundane in comparison. [Thanks to Michael Pachter and Jesse Divnich for context]
Ousted Take-Two CEO Eibeler joins SouthPeak board
Tuesday 4 August 170-something lbs. of face-palming rage.Food consumed today:A lot of really audible snacks and stuff that makes me sound bone-crunchy and vicious, like a Central Park West poodle.Just past midnight. New York: my penthouse. Do people never learn? Found out today that SouthPeak Interactive has hired Paul Eibeler to be on its board of directors. This is the same guy I had ousted from Take-Two back in '07 -- not to mention, Diary, I'm still bitter about that golden parachute we gave him.What really wrinkles my suit, though, is this statement by SouthPeak chair Terry Phillips: "As one of the most respected executives in the interactive games industry, we welcome Paul to the board of directors." LOL to the ROFLCOPTER! I laugh in their general direction, Diary. Eibeler was named "Worst CEO" by MarketWatch in 2005 for his handling of Take-Two and the way he dealt with the "Hot Coffee" scandal. I mean, I've taken my licks, but Eibeler getting hired? It's like nobody Googles anymore.
Zelnick's Take-Two leadership blasted by investor blog
Wednesday 22 July 170-something lbs. I'm really sad, been putting on some weight and missing workouts.Food consumed today:Went total heifer and ate a tub of Cherry Garcia AND Vanilla Heath Bar Crunch. Too upset for anything else.Late morning. New York: my Take-Two office. Boo! Boo, I say. Meanie McMean-Means at Market Rap, an investors blog site, said not-nice things about me. I was fine with it until the games press -- which I read every day -- started picking up on it. I totally missed my 7AM, 9:10AM and 11:27AM crunch sets because I was so depressed. Anyway, this Perry H. Rod author guy says that I'm a liar and seems most upset about the stock drop after I brutally rebuffed EA's advances on MY company. He concludes, "If you're keeping score, in a two year period, Mr Zelnick managed to, on three occasions, make vital statements that were within a matter of weeks proven to be either fabricated or just incredibly incompetent (or worse)." Ouch, diary. This dude makes it sound like I'm as bald-faced a liar as Nintendo. It's not fair. I'll turn the company around once the economy picks up. I promise.[Via GamePolitics]
Strauss Zelnick discusses Q4 release assault, ponders 'chicken and egg' of it
Thursday 18 June 160-something lbs. Still need to work off that extra E3 weight. LACC food is sooo delish! Food consumed today: Nutri-Grain bar. Steak with hollandaise. One of those plasmid drinks we're thinking of tying into BioShock 2. Late afternoon. New York: my Take-Two office. Just read the VentureBeat interview published yesterday about me. Really hate that picture they used, I'm totally not working my chiseled features. Anyway, they asked me about delaying Red Dead Redemption and Mafia 2. I mean, come on, the holiday season is already packed. People will have even less cash this year. Maybe we'll get lucky and pull a GTA IV release with one of those titles? Haha, Diary. I know, we're not gonna get that lucky. Anyway, they also asked me about that EEDAR report, which says games sell better in the fourth quarter. That's good and all, but couldn't it be argued that it's a "chicken and egg problem"? Like, people buy during the holiday because that's when games come out? We'll try something a little different. Oh well, that's enough philosophy for one day. Good night, Diary.
Take-Two COO Gary Dale quits
Friday 16 January 150-something lbs. Feeling like I could be on the cover of a magazine. Food consumed today: 2 Apples. May have snuck something else in, but I'm too busy to recall. Early in the day. New York: my office. Ugh. Gary Dale, my chief operating officer at Take-Two. You know, my "Gar Bear." Well, he told me he's leaving the company. His day-to-day duties are just done. I think I'm pretty bummed about this, but I'm feeling too good after my workout this morning to get hung up on it. Anyway, Gary became my COO last year after holding the same position over with those cash cows at Rockstar. We haven't talked publicly about why he's leaving ... sorry, Diary, I can't even tell you. Gar Bear will be officially done with the company on April 15. He's got this thing where it takes him a really long time to say goodbye.
