Take-two Interactive
Latest
Take Two downgraded. EA seeks 2K sports?
Michael Pachter of Wedbush Morgan Securities recently downgraded his assessment of Take Two Interactive stock from "hold" to "sell." While Grand Theft Auto IV is a guaranteed smash, WMS is wary of the lackluster performance of 2K Sports and "everything else." Naturally, Take Two's recent "hot coffee" scandal add to the decision, which Pachter chalks up to management decisions. Essentially, Take Two allows great freedoms to its creators, which results in groundbreaking games like GTA, but also results in sexual content making it onto a retail disc.Pachter discussed the possibility of the company being bought, divided, and sold in pieces. It's "unlikely" according to Pachter, but he does note that EA would be the most likely candidate to purchase 2K, as it would give the company a monopoly on nearly all major sports products. Pachter said such a monopoly could be worth as much as $1 billion, though he believes 2K Sports itself could probably be had for $200 million.[Thanks, dpcough]See Also:NFL2K rises from the ashesReduced 360 target causes VG stock dip
Duke Nukem ... Finally?
Although the title should be Duke Nukem Forever (in the Making), is it finally coming out? It was announced way back in 1997, meaning that there are tons of young gamers out there who have never even seen a Duke Nukem title, so they have no idea what all this about anyhow. Best Buy is listing it for sale now on January 2nd, 2007 for $59.99. They also claim that, "Duke Nukem is an action hero for the ages, with his big muscles, big guns and an even bigger sense of humor." For the ages. Yep, they sure would have appreciated this guy back in 1300 AD. He could've teamed up with Ash, ftw.The listing is probably pure crap, especially since both the Take 2 and 3D Realms sites say nothing about a final release date. But, it sure makes us wonder. Is this thing ever going to see the light of day? Several key members of the Duke development team left 3D Realms in August, which surely hurt the work on this title. Your guess is as good as any if this listing is real or not. But for the adventurous readers out there, pre-order and cross your fingers.Of course, if it doesn't come out, we're pretty much used to waiting at this point, as evidenced by a similar situation last year. However, if a miracle happens and it hits the shelves, where will we point to as the longest game in development from now on? Does anyone still care about Duke at this point? [Thanks, Kurt & Tim]
Sid Meier's Pirates! swashbuckles its way to the PSP
For all your port haters out there don't look now because the PSP is about to get a port of a port in the form of Sid Meier's Pirates!. In the game, which was originally released in 1987 and re-made in 2004 on the PC, then released in 2005 on the Xbox and is now scheduled to be released in January on the PSP, players take control of a pirate who must find his kidnapped family members, gain revenge and obtain lots and lots of booty."We love the new possibilities from handheld systems like the PSP," added Sid Meier, Director of Creative Development at developer Firaxis Games. "Pirates! for the PSP system allows players to shape the heroic life of a pirate while embracing the pirate's way of life -- always on the go!"Thankfully, the PSP version, which will be published by Take-Two Interactive in North America and Europe, will feature some new features like new treasure hunts, widescreen display and four-player wireless multi-player, according to Gamespot. Pirates! is a game I always wanted to play on the Xbox but never got around to it, so I'm really hoping this version comes through.
Take-Two in trouble with NASDAQ
Take-Two Interactive, publisher of the famed Grand Theft Auto series, is under pressure to complete its quarterly report. NASDAQ has filed a non-compliance on the company for failing to report its July 31, 2006 statement on time. If Take-Two fails to comply, the company may have its stocks de-listed from NASDAQ, which would cause havoc with the share prices. Take-Two's official stance is that they wish to review their stock options before releasing the financial report, though taking over three months to do so is suspect. According to the SEC, 10-Q forms (the form Take-Two is late on) must be filed within 40 days of the end of the financial period. There's gotta be something more than a simple review of stock options going on. Could Take-Two be shuffling around records to hide or eliminate a fraudulent transaction? Maybe the media exposure over Bully has hampered sales; TT could be stalling for time to release the bad news, hoping the share price impact is softened by strong holiday sales outlooks. In any case, Take-Two needs to get their act together or investors may look elsewhere to keep their retirement assets. If so, TT would need a mega-hit series to keep the investor's money from falling out of their pockets ... oh, wait.
TTWO shares drop on earnings warning, stock option investigation
Take Two just warned Wall Street analysts that their estimates for Take Two earnings in upcoming quarters are "too high," and disclosed new subpoenas from the NYC district attorney's office for documents related to stock options grants. Company shares dropped over 8% to $11.20 in after-hours trading. Some gamers might be tempted to shrug off all this bad news and what it's done to Take Two's shares, figuring that what happens on Wall Street doesn't matter so long as Take Two delivers the goods next October with Grand Theft Auto IV. But Take Two's financial woes do matter because the company uses its stock as compensation. When the company's shares drop, employees take a de facto pay cut, making it more difficult for the company to motivate and retain the brains that create hit titles. In the software and creative industries, it's said that 100% of company value walks out of the door every evening. If this keeps up, Take Two's going to have a harder time convincing employees to return the next morning. [Disclosure: I own way too many shares of Take Two. My wife reminds me of this almost daily.]
Take-Two finally reaches resolution
The FTC has left the building! Take-Two wipes its brow in both relief and aggravation. According to the article at 1up.com, Take-Two and the FTC have taken care of all the issues and no fines were assessed. Looks like Rockstar can come out of the crawlspace and breathe easier.All is not pizza and wine (if anyone gets the reference, you are greater than gold), as a consent order was still issued to Take-Two. Basically, it means they can't misrepresent the content of their games (saying there is alcohol consumption in a game, but omitting drug use, for example) and they also have to create a personal reviewing committee to make sure they're in line with the ESRB. All is well for now, but if something like this happens again, the FTC will come back with all the might the law will allow. Still, congrats on getting out of the noose, Take-Two! Now then, about making us some PS3 games...
BioShock updated screens, demo impressions
GameSpy has some new screens from Irrational Games' BioShock, the sci-fi shooter-RPG filled with big daddies, little sisters, and splicers in the failed utopian undersea kingdom of Rapture. You can also check out GameSpot's demo impressions to learn more about the spooky inhabitants you'll encounter in this Unreal-powered adventure. They gave BioShock a Game of the Show award at E3 earlier this month.
Take-Two announces 2K Shanghai
Take-Two Interactive is joining the Chinese gaming revolution with their announcement of a new development studio for the 2K Games label. 2K Shanghai's first project is to localize Civilization IV for the Chinese market, but they will also assist their New York-based parent in the co-development of other titles and original IP. 2K Games can count Electronic Arts, NCsoft, and Ubisoft among its foreign neighbors in the Pearl of the Orient.See also: China Games Summit held in Shanghai, Joystiq Interview: Hoyt Ma (The 9)
Take-Two takes a hit in revenues; Civ IV to ship before Halloween
Who needs trick-or-treating when you can conquer the world? Take-Two, in reporting losses of $28.8 million this quarter, has announced a couple of changes to the shipping dates of its upcoming games. Civilization IV, Grand Theft Auto: Liberty City Stories, and The Warriors will all ship before the end of October, but Bully has been pushed back to sometime after February 2006. Grand Theft Auto: San Andreas, whose hidden sex minigame caused it to be pulled off the shelves (and likely the big reason of Take-Two's quarter losses), will return to stores sex-free next week. Also announced for 2006, though in vague references, were two PSP games, a sequel to a Rockstar game, a brand new franchise for the Xbox 360, and of course "extensions of the Grand Theft Auto franchise." Because, honestly, what would 2006 be without some Grand Theft Auto controversy?
