Rumor: Viacom bidding $1.5 billion to take over Take-Two

by Scott Jon Siegel { Feb 7th 2008 at 11:55AM }

Take-Two Interactive has seen its fair share of ups and downs, and with stocks on the slow rise following the announced release date of GTA IV, it's rumored that media conglomerate Viacom might be moving in to make a bid on the company, to the tune of $1.5 billion USD.

MCV reports that Viacom is looking to buy majority ownership of the publisher and developer, with a reputed bid of $23 USD per share; Take-Two's current stock value was at around $16 as of last night. At this premium, majority shareholders could be convinced to sell their stock, giving Viacom an opportunity to seize control of the company.

True or not, the value of Take-Two is expected to rise tremendously following the release of Grand Theft Auto IV, making these early months the best time for a company like Viacom to make a move.

Update: Reuters says that "a source familiar with the matter" has disputed reports of Viacom's offer. The plot thickens ...

Tags: grand-theft-auto, gtaiv, rumors, take2, viacom

Reader Comments (Page 1 of 1)

Vince @ Feb 7th 2008 12:01PM

this is bad. if giant media corporations start to take over the games industry, no good will come of it.

Intentless @ Feb 7th 2008 12:12PM

I Second... and concur...

Tiptup300 @ Feb 7th 2008 3:28PM

Please god no, media outlets should not eat up the games industry into what fox news has become. Although there might be better advertising and no se"xbox" words used.

Platinum_Skeet @ Feb 7th 2008 3:51PM

NOOOOO THE SAME COMPANY THAT OWNS MTV'S GONNA OWN ROCKSTAR!!! NOOO

Draco @ Feb 7th 2008 12:40PM

not only that, but I expect their stock to fall once whatever it is Take 2 were expecting to cause a uproar happens.

HighFiveJesus @ Feb 7th 2008 12:46PM

I just picture a big fish getting eaten by an even bigger fish, eaten by a bigger shark ect.

Vince @ Feb 7th 2008 12:51PM

Just imagine if games had to jump through the same bullshit MPAA hoops that movies did. it's a scary thought.

Mr.ESC @ Feb 7th 2008 1:18PM

Quoting Darth Vader: N00000000000000!!!!

Joe @ Feb 7th 2008 1:30PM

Ever other person thinks this is bad. But me I think differently Viacom owns MTV which owns Rock Band. So this would allow future games to be under the 2K brand instead of EA. Plus Viacom wants to be more in the game market and they have lots of money so this could be good and not bad.