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Take Two second quarter loss shaved by catalog and digital sales

Related Topics – Take-Two
Take Two second quarter loss shaved by catalog and digital sales

In preface to discussing financial results for the company's second financial quarter, Take Two Charmin and CEO Strauss Zelnick said, "Our results for the second quarter mark 8th consecutive period in which we've met or exceeded our financial outlook." While it may have been better than expected, the $107M in revenue amounted to less than half the $245M figure from the same period last year. While a year ago the company had Mafia 2 and Civilization V to lead the sales charge, this year sales of older "catalog" titles accounted for 83 percent of the revenue. Zelnick cited this performance as a sign of strength for their creative team and its ability to create highly rated games that maintain prolonged demand from consumers.

Read more: Rockstar expected to account for 54 percent of yearly earnings »

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Occupy Wall Street influencing BioShock Infinite

Occupy Wall Street influencing BioShock Infinite

Even if he usually doesn't dip his toes into specifics, the tone of Ken Levine's games is more than enough to identify him as someone interested in history and politics. So it isn't very surprising that he's been paying attention to the recent Occupy Wall Street protests, and seeing parallels to his own upcoming game BioShock Infinite. The conflict between the xenophobic Founders and the communist-turned-militant Vox Populi is the centerpiece for a lot of the action, and Levine recently spoke about where the groups intersect with modern politics.

Read more: 'Fictional movements... almost being duplicated in reality' »

"You're right about that, but anarchist tend to ride the coat tails of left wingers. In European ..."
- Ksey17    See all 9 comments

BioShock Infinite capitalizing on PS3 strengths

BioShock Infinite capitalizing on PS3 strengths

Gabe Newell did a surprising about-face at E3 2010 by appearing at the Sony press conference to declare some nifty PlayStation 3-exclusive features for Portal 2. Sony might be making it a yearly tradition, as this year Irrational head Ken Levine appeared on stage to talk up the PS3 version of BioShock Infinite, and he promised a Vita BioShock title to boot.

In a new wide-ranging interview, Levine shows a desire to do right by PS3-owners after former timed exclusivity with rival Xbox 360, talks about his attitude towards stereoscopic 3D, and hints at a plan to add replay value to the game.

Read more: Irrational now in a 'much better place' on PS3 »

"As long as Apple restricts their OS to Macs they will never supplant Windows for gaming."
- Topsiderover    See all 6 comments

Take-Two reports loss; Duke 'projected' to be profitable

Take-Two reports loss; Duke 'projected' to be profitable

In Take-Two Interactive's first quarter report for its fiscal 2012, the company posted a downturn in net revenue of $334.4 million versus $375.4 million in its pre-shifted, fiscal 2010 report.

Take-Two's first quarter, fiscal 2012 shows a loss of $8.6 million. Strong sales of Red Dead Redemption during its last reported April-June gave the the company a net income profit of $26.3 million, putting the current reported period in a challenging position.

Duke Nukem 'projected to be profitable' »

"Because Duke and LA Noire were not the AAA blockbuster sellers that they expected them to be. ..."
- dedgecko    See all 16 comments

Duke Nukem Forever sales lower Take-Two revenue estimates

Duke Nukem Forever sales lower Take-Two revenue estimates

Duke Nukem Forever may not be the sales success that publisher 2K Games and parent company Take-Two Interactive had expected. While its eventual release drew a lot of attention, it appears the fanfare hasn't translated into the numbers originally expected. According to Gamasutra, analyst firm Wedbush Morgan lowered its fiscal Q1 estimates for the company thanks to drastically lower sales than originally predicted. Initial estimates predicted sales of 3 million; the company now expects half that.

Offsetting the disappointing sales of Duke Nukem Forever is LA Noire, which is now expected to sell between 3.5 and 4 million copies. Ironically, in spite of Duke's less-than-warm reception, it's more likely to receive a sequel than Team Bondi's troubled crime thriller. Read more »

"it looks like it. analysts. what a bunch of overrated idiots. "
- fw_rams    See all 170 comments

Take-Two CEO promises 'future Duke IP'

Related Topics – Duke Nukem Forever, Gearbox, Take-Two
Take-Two CEO promises 'future Duke IP'

Gearbox Software snatched up the rights to Duke Nukem and committed to finishing Duke Nukem Forever. It seemed likely that the developer was pushing that elephant out of the room so it could create its own Duke games, so it comes as no surprise that Stauss Zelnick, CEO of publisher Take-Two, is planning for more entries in the franchise.

"We don't really talk about it in detail but you will see future Duke IP coming from this company," Zelnick told Forbes. Though Gearbox officially owns the IP, Take-Two has a strong relationship with the developer, having published both DNF and Borderlands (through their 2K subsidiary). Read more »

"that's a lot of text for a duke game. duke is simple. straight forward action. doesn't take ..."
- fw_rams    See all 114 comments

NHL 2K11 Only on Wii This Year

Traditionally released on a variety of platforms, 2K Sports' annual hockey franchise NHL 2K will be (mostly) taking this year off, with only a Wii edition of 2K11 planned.

Read more »

"2K10 for Wii is satisfying once you get your mind around the controls. The menu system however ..."
- Thund3rball    See all 3 comments

Take-Two Confirms Corporate 'Restructuring,' Denies Studio Layoff Rumours

Rockstar and 2K Games owner Take-Two has confirmed that a corporate "restructuring" is underway but stresses that no development studio positions are facing the chop.

"As part of Take-Two's stated goal to maximize the efficiency of our business, we initiated a targeted restructuring of our corporate departments only in order to better align our resources with our current goals," reads a statement given to MCV, but "to be clear, there were no reductions made at the studio level." Read more »

"Geronimo and Sam need shiny new cars and vacation homes people, time to fall on the sword"
- et72    See all 2 comments

Take-Two Reports Record Profit in 2008 as GTA 4 Produces $710M

Related Topics – xbox 360, PlayStation 3, PC, Take-Two

Publisher Take-Two today reported a strong year of sales in 2008, due in large part to the staggering performance of Rockstar's Grand Theft Auto IV.

The company's 2008 net income was $97.1 million, as compared to a net loss of $138.4 million in 2007.

Take-Two representatives noted that Grand Theft Auto IV accounted for $710 million of its $1.5 billion total revenue in 2008, which amounts to approximately 60% of its total publishing take. Read more »

"After finishing Fallout (60 hours!) I thought the same thing... "Man, I hope Borderlands can ..."
- spyrext    See all 9 comments

Take-Two CEO Dubs Subscription Gaming a Business 'Holy Grail'

Related Topics – xbox 360, DLC, PlayStation 3, PC, Take-Two

Take-Two CEO Strauss Zelnick has seen the future, and it is subscription-based gaming, a business model that the leader called the "Holy Grail."

"The Holy Grail is taking a business, already a very large and successful business that's focused on packaged goods that you sell once ... and turning that into a subscription business or a semi subscription business where we have an ongoing relationship with consumers," explained Zelnick at the BMO Capital Markets conference this week as noticed by Kotaku. Read more »

"I'm also Australian and in Australia will only tip IF the service is exceptional. I however ..."
- Thermal Ions    See all 41 comments

Take-Two Hit With $50M Lawsuit From Former Executive

Related Topics – lawsuit, Take-Two

Robert Alexander, a former board member of publisher Take-Two, has sued the company for $50 million, alleging that Take-Two reneged on an oral contract with Alexander.

It's a complicated story dating back to the 1990s, but GamePolitics sums it up well:

Read more »

"check out the other 99.9% of cases where judges laughed for 5 mins upon hearing 'oral contract' ..."
- syn0r    See all 17 comments

The Fallout of EA and Take-Two's Falling Out

Related Topics – Electronic Arts, Take-Two

Over the weekend, publisher Electronic Arts announced that it was ending its attempted merger with Take-Two. With Take-Two's stock diving by roughly 25 percent, the financial world is buzzing with the news that Take-Two may be in some trouble after the closed-door negotiations collapsed.

Chris Morris of Forbes points out that in a five-month timespan, 2004's Grand Theft Auto: San Andreas actually outsold this year's blockbuster Grand Theft Auto 4 by a margin of 5.5 million to 4.8 million. A margin of less than one million copies may sound insignificant, but the greatly increased production costs involved in GTA4 mean that its premature sales slowdown isn't good news for Take-Two's profits. Read more »

"That's not really the case. See: a million game franchises. Publishers swap things around ..."
- Chris Remo    See all 27 comments

Electronic Arts Terminates Take-Two Takeover Talks

Related Topics – Electronic Arts, Take-Two, Buyout

Electronic Arts is dropping its pursuit of Grand Theft Auto 4 publisher Take-Two Interactive, the company announced today.

Following months of hostile buyout offers by EA, the companies started talks under a confidentiality agreement last month.According to the announcement today, "EA continues to have a high regard for Take-Two's creative teams and products," however, "after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."

Read more »

"No, I don't think so; when people spout stupid ea is evil, micro$oft, apple it just works, etc, ..."
- Bantis    See all 52 comments

Electronic Arts, Take-Two Enter Confidential Talks

Related Topics – Electronic Arts, Take-Two

After months of back and forth, publishers Take-Two and Electronic Arts are now holding private meetings on the subject of a possible acquisition, according to EA.

Electronic Arts offered to buy Grand Theft Auto 4 publisher Take-Two for some $2 billion in February. Take-Two declined the offer, and has since fought off a hostile takeover bid by EA. Read more »

"oh hey, forgot about that one! there must be more pairings that would go nicely in there.."
- xsoulbrothax    See all 10 comments

Live from the Take-Two Press Conference

Related Topics – xbox 360, PlayStation 3, PC, Take-Two, E3 2008

It's the second day of E3, and Take-Two is making ready to present the last of the major publisher press conferences.

We expect to at least hear more about Gearbox's post-apocalyptic shooter Borderlands, and some details on what Rockstar is up to with Grand Theft Auto 4 DLC. News on what Ken Levine and the 2K Boston crew is doing would be a surprise, as would anything related to BioShock 2. Read more »

"Take Two has the publishing rights to DNF. So unless they sell those rights before it is done ..."
- Kristian Joensen    See all 14 comments

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