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

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 ...