Take-Two Chairman Dismisses Acquisition Rumors

Following the investor coup led by current Take-Two chairman Strauss Zelnick, analysts speculated the newly appointed company head might be readying the game giant for a buyout. Zelnick not only dismissed these notions at the recent Reuters Media Summit, but said the company instead has plans for expansion.

"I'm much more interested in growing the business than in selling it, to be clear," Zelnick said at the summit. "I imagine headcount will grow. This is a growth business. We are in growth mode."

Zelnick went on to say the company plans on publishing more original IPs than licensed properties. "From a specific point of view, what we find most compelling is building up our collection of our intellectual property," the chairman said.

Although Take-Two predicts a net loss for the current fiscal year, the company believes the release of Grand Theft Auto IV (X360, PS3) and other titles during fiscal 2008 should lead it to profitability.