It's time to tap into your inner carjacker.
This is the kind of news that would only excite the audience of young males who live and die by release dates. But the stakes on this morning's debut are high, after Take-Two rebuffed a $2 billion unsolicited buyout offer from Electronic Arts
Take-Two's reluctance to accept EA's premium bid got a boost when the company lapped Wall Street expectations and raised its guidance last month. Now it needs the game to hit it big, to convince shareholders that cashing out to the leading video game software company would be a premature exit strategy.
GTA IV should be huge for Take-Two. Fans have had to wait years between releases in the past, but Take-Two already has plans for episodic installments. Since the new chapters will be delivered online -- and stored on console hard drives -- Take-Two stands to hit pay dirt by selling high-margin titles that require no packaging, distribution, or inventory overhead costs
Take-Two is fighting for its independence, but it's also battling for the right to command a higher buyout bid from EA or any other potential buyer. Between healthy retailer preorders and favorable buzz among diehard reviewers who have taken an advance ride around GTA's violent streets, things are looking up for Take-Two.
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Have a great day out there.