Joystiq

Take-Two appoints COO Karl Slatoff as president

Alexander Sliwinski — Wed, 08 May 2013 07:00:00 EST

Tuesday 7 May

? ? ? lbs. I never weigh myself on a day of celebration.

Food consumed today: King Crab Legs in a bucket, like a boss!

Late afternoon. New York. Manhattan. Red Lobster in Times Square.

Dearest Diary,

It's been ever so long, but I must put emotion to paper. I'm writing this from a men's room stall at Red Lobster because I couldn't hold it in any longer. Don't be vulgar, Di! I mean my emotion! The 8-K filing went public today, and it says Karl Slatoff is now president at Take-Two and I just had to tell you.

Karl's been my chief operating officer since 2010 (when I became CE-O-O-Oh yeah!) and it was about time for him to take on another "newly created role" like last time. And since Karl is a kingly name, and heavy is my head that wears the crown, I figured we should go for king crab at Red Lobster.

"But they don't serve king crab at Red Lobster, only snow crab," you say. True, but Karl and I - to honor the heritage of our first names - dressed up as Bavarian tourists in full lederhosen and we had a bucket of king crab legs served that I had flown in from Alaska this morning. The cook was quite amenable to the idea after I gave him an early copy of Grand Theft Auto 5.

Anyway, next week we announce Take-Two's full-year financial results and between Borderlands 2, XCOM, our sports games and GTA at the end of this year, I'm thinking Karl and I can play German tourist more often.

Promise to write to you more,
Streusel

Take-Two appoints COO Karl Slatoff as president originally appeared on Joystiq on Wed, 08 May 2013 07:00:00 EST. Please see our terms for use of feeds.

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Take-Two doesn't expect its budgets to grow significantly with next-gen

Alexander Sliwinski — Tue, 05 Feb 2013 18:30:00 EST

Here's another good thing about this current console generation lasting as long as it has: it appears to have reduced fears over next-gen budgets, at least among some parts of the industry. Current-gen budgets have had quoted with ranges between $15 million for BioShock and $44 million for God of War 3, but Take-Two isn't planning for the next-gen of consoles - expected later this year - to be wildly different from current costs.

"We don't have any reason to believe our development budget will change significantly," said Take-Two CEO Strauss Zelnick on a financial call today. "If anything, we've become, group wide, much tighter in how we spend our money. It has been the challenge and we've been very focused on it. We can't say specifically, but, no, we don't expect to see a meaningful change in what it costs us to release these top quality products."

Then again, it's hard to put next-gen budgets into perspective when you're the publisher of Grand Theft Auto 5. If the game's launch on September 17 incurs anything like Grand Theft Auto 4 or Red Dead Redemption's marketing, you'll have to take a trip to the Andes to avoid it.

Take-Two doesn't expect its budgets to grow significantly with next-gen originally appeared on Joystiq on Tue, 05 Feb 2013 18:30:00 EST. Please see our terms for use of feeds.

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Grand Theft Auto franchise up to 125 million shipped, GTA 4 at 25m

Sinan Kubba — Wed, 28 Nov 2012 09:30:00 EST

125 million copies of Grand Theft Auto games have shipped to retailers, with a fifth of that figure represented by Grand Theft Auto 4, in at 25 million. Take-Two Interactive CEO Strauss Zelnick announced the franchise's new milestone at this year's Credit Suisse Technology Conference. GameSpot later confirmed it with a Take Two representative, who also disclosed the figure for GTA 4.

That means Take Two shipped 3 million copies of GTA 4 in the last 14 months, and 11 million franchise units. According to Zelnick, it's the irregular scheduling that maintains the series' popularity. Zelnick cited his understanding that Call of Duty Black Ops 2 is performing poorer commercially than Modern Warfare 3.

"That's never been the case with one of ours," said Zelnick. "Ours do better each time. Our view is it's hard to make permanent intellectual properties if you annualize it, with the exception of sports titles. So far that's proven to be the case. IP that is annualized eventually seems to hit the wall and we don't want our IP to hit the wall."

For the record, Activision recently announced Black Ops 2 made $500 million on its first day at retail, up from the $400 million for Modern Warfare 3.

Grand Theft Auto franchise up to 125 million shipped, GTA 4 at 25m originally appeared on Joystiq on Wed, 28 Nov 2012 09:30:00 EST. Please see our terms for use of feeds.

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Take-Two investor call theme: Where's Grand Theft Auto 5?

Alexander Sliwinski — Tue, 31 Jul 2012 19:18:00 EST

The first half of Take-Two's question and answer session, during today's first quarter investor call, revolved around the theme of Grand Theft Auto 5 and its current status. Whether directly or indirectly, three questions in a row tried to eke out any details about the game, which appears to be part of the publisher's high revenue projections but still has an official "TBA" release date.

"Strauss, we've heard nothing, next to nothing, on GTA 5 development over the last couple months," said Mike Hickey of National Alliance Securities. "We've seen a couple screenshots. The game is believed by the street to be implied by your guidance for this fiscal year, but what believability do we have that this game is actually going to come out this year?"

CEO Strauss Zelnick responded, "We haven't talked about a release date. So obviously we can't talk about the credibility of a release date that we haven't announced."

Pushed further on whether the publisher is receiving consistent updates, the CEO deflected.

"We wouldn't talk publicly about the way we communicate with our teams internally," replied Zelnick. "We are blessed to be in business with the Rockstar folks and everyone knows that I feel that way. We have the best creative teams in the business across our company."

Though the company did announce today that "consumer anticipation is phenomenal" for Borderlands 2, it would still need to hit home runs with NBA 2K13, XCOM: Enemy Unknown and BioShock: Infinite to hit its forecast.

Take-Two investor call theme: Where's Grand Theft Auto 5? originally appeared on Joystiq on Tue, 31 Jul 2012 19:18:00 EST. Please see our terms for use of feeds.

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Take-Two's Zelnick 'skeptical' of Wii U, not of next generation

Mike Suszek — Sat, 16 Jun 2012 16:30:00 EST

Take-Two CEO Strauss Zelnick said he was "skeptical" of the Wii U in a recent interview with Gamasutra. He noted that Take-Two hasn't announced any games for the platform.

Zelnick talked about the strategy he believes a company like Take-Two should follow. In regards to new console launches, he said that "if you get it right, it's a terrific time to launch a new IP." He also spoke against annualizing non-sports games, so as not to risk "burning out the consumer," which echoed statements he made in late 2009.

"Some of our competitors have had this trajectory where they extract a lot of value and the IP goes away. We're trying really hard to build permanent IP. And if you have to rest the title for a few years, over time you'll extract more value," he said. "We're not trying to create something good and market the hell out of it. We're trying to delight customers with something great - and market hell out of it."

Take-Two's Zelnick 'skeptical' of Wii U, not of next generation originally appeared on Joystiq on Sat, 16 Jun 2012 16:30:00 EST. Please see our terms for use of feeds.

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THQ: Take-Two CEO's perception is 'outdated'

Alexander Sliwinski — Thu, 05 Apr 2012 18:36:00 EST

THQ has contacted Joystiq with a response to Take-Two CEO Strauss Zelnick's dire prediction from this afternoon: "Obviously, Mr. Zelnick's perception of THQ is outdated and inaccurate. His comments are irresponsible and false. Perhaps he would be better off commenting on his own business."

THQ: Take-Two CEO's perception is 'outdated' originally appeared on Joystiq on Thu, 05 Apr 2012 18:36:00 EST. Please see our terms for use of feeds.

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'THQ won't be around in six months,' says Take-Two CEO Zelnick

Alexander Sliwinski — Thu, 05 Apr 2012 15:40:00 EST

Take-Two CEO Strauss Zelnick spoke plainly today at the MIT Business in Gaming conference about the differences between his company's strategy on core game development and that of the floundering THQ.

"THQ's strategy was licensed properties, first and foremost. License stuff from other people, whether it's UFC or WWE or a motion picture property, and make a game around that," Zelnick said, noting Take-Two hasn't had the best year either, but a good five-year run. "And our approach, since we took over the company, is 100 percent owned intellectual property."

Zelnick stated licensed properties -- something he has avoided in his career -- leaves publishers at the mercy of license holders. Even if a publisher does a great job on a property, it will have to renegotiate the license in a few years and the margins will decrease because it's being charged more money for a brand it built up in the space. Zelnick noted THQ did partially change its strategy a few years back regarding owned intellectual strategy, but it's hard to do that overnight.

"The most important difference is quality. Take-Two has the highest quality ratings among third-party publishers, according to Metacritic and most people in the industry. Quality really, really, really matters. THQ has had some good games, but their quality levels aren't even remotely ... the quality hasn't measured up."

"Strategy didn't work and the execution was bad. To put it another way: the food was no good and the portions were small." Zelnick closed his comparison of the two companies by saying, "THQ won't be around in six months."

Update: THQ responds.

'THQ won't be around in six months,' says Take-Two CEO Zelnick originally appeared on Joystiq on Thu, 05 Apr 2012 15:40:00 EST. Please see our terms for use of feeds.

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Take-Two's Zelnick thinks Zynga metrics are 'sketchy'

Alexander Sliwinski — Wed, 30 Nov 2011 15:30:00 EST

Wednesday 30 November

185 lbs of Ba-Zynga bashing awesomeness.

Food consumed today: Nothing. I'm being fueled by music. Specifically, one song: "Eye of the Tiger." It's on repeat and nothing is gonna get in my way.

Afternoon. It's brisk in NYC and I'm bringing the heat to Zynga. If that bubble won't pop on its own, I might as well start passing around a bottle of wake-up juice!

Continue reading Take-Two's Zelnick thinks Zynga metrics are 'sketchy'

Take-Two's Zelnick thinks Zynga metrics are 'sketchy' originally appeared on Joystiq on Wed, 30 Nov 2011 15:30:00 EST. Please see our terms for use of feeds.

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Zelnick planning on more Duke Nukem, figuring out tablet gaming

Alexander Sliwinski — Tue, 21 Jun 2011 11:00:00 EST

Tuesday 21 June

I've had all scales removed from Take-Two HQ since becoming CEO. I have too much work to do and I can't be checking my buffness at every water fountain and copy machine (all of which had scale attachments). I do still check it after workouts and after a good cry, when I consume a pint of Chunky Monkey while reading Duke Nukem Forever reviews.

Food consumed today: Don't know, trying to stay relaxed and groovy as CEO. Get in touch with my inner artist. Do I eat? Did I eat? Am I eating now? I don't know and I'm trying not to care.

Morning. The light glistened off the Chrysler Building in such a magnificent way I grabbed a street artist to paint me a picture of it. New York.

Continue reading Zelnick planning on more Duke Nukem, figuring out tablet gaming

Zelnick planning on more Duke Nukem, figuring out tablet gaming originally appeared on Joystiq on Tue, 21 Jun 2011 11:00:00 EST. Please see our terms for use of feeds.

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LA Noire is 'a powerful new franchise' for Take-Two

Christopher Grant — Tue, 24 May 2011 17:50:00 EST

During this afternoon's Take-Two investor call, CEO Strauss Zelnick said that though he wasn't interested in comparing every new intellectual property to the "extraordinary success of Red Dead Redemption," Rockstar's latest has all the makings of a key franchise.

"We have every reason to believe L.A. Noire is another strong franchise for this company," Zelnick said. "No matter how you slice it, it's a very successful release and to be able to say that again is extraordinary." Of course, Rockstar's many successes colored much of the call, from the announcement that Red Dead Redemption has now sold over 8.5 million units to the news that Rockstar's core creatives have renewed their employment contracts. "And if it needs to be said, this management team is just immensely grateful to Rockstar for delivering another superb title," Zelnick reiterated to investors. "One can never take that for granted. The hit ratio for this group is nothing short of extraordinary."

When asked about downloadable content plans for L.A. Noire, Zelnick predictably side-stepped the question -- "We'll leave it to Rockstar to announce" any plans, he said -- but he again said that L.A. Noire is a "powerful new franchise" for Take-Two.

Earlier in the call, Zelnick defined Take-Two's strategy, saying, "the core of which is to produce and distribute a select number of triple-A titles and support them with add-on content distributed both on disc and digitally." He continued, "Add-on content generally produces incremental revenue and profits and keeps gamers engaged with our titles for longer periods of time, thereby extending the life of the product, increasing the value of the brand, and ultimately converting it into a franchise."

Following this math, L.A. Noire is going to need some more add-on content before it can really claim that "franchise" moniker ... So how about getting on the horn with the good people at Roger Rabbit Licensing, Inc.? No price is too high!

LA Noire is 'a powerful new franchise' for Take-Two originally appeared on Joystiq on Tue, 24 May 2011 17:50:00 EST. Please see our terms for use of feeds.

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NBA 2K11 is 2K Sports' best-selling game ever

JC Fletcher — Tue, 08 Feb 2011 17:10:00 EST

During an investor call today, Take-Two revealed just how nice a season NBA 2K11 has had without competition from an EA Sports' basketball sim. Hint: Really nice.

"NBA 2K11 has now sold in nearly 4 million units since launching in early October," Take-Two CEO Strauss Zelnick said during the call, "and has become the best-selling title in the history of both our basketball franchise and 2K Sports." ("Sold in," of course, refers to shipments to retailers, rather than actual purchases by consumers.)

It would be irresponsible to attribute all of the game's success to the fact that EA canceled NBA Elite 11, leaving NBA 2K11 (pretty much) unopposed in the market. 2K11 was quite well-received by critics on its own. But it would be even more irresponsible to pretend the cancellation had nothing to do with the increase in 2K11 sales.

NBA 2K11 is 2K Sports' best-selling game ever originally appeared on Joystiq on Tue, 08 Feb 2011 17:10:00 EST. Please see our terms for use of feeds.

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Take-Two records $1.16 billion in revenue over last fiscal year, regains profitability

Ben Gilbert — Thu, 16 Dec 2010 17:01:00 EST

Take-Two Interactive, publisher of this year's Red Dead Redemption and Civilization V, among others, today announced net revenue earnings of $1.16 billion for the 12 months ending October 31, 2010, a 65-percent growth over the previous fiscal year's revenues. In all, after operating expenses and taxes, Take-Two earned $42.6 million in profit for the year -- quite a turnaround from the $140.5 million hole (read: net loss) it dug itself last fiscal year. Software sales slump, what now?

In its fourth quarter alone (August-October), Take-Two brought in $373.7 million in revenue, roughly 32 percent more than in the same period in 2009, working out to $53.8 million in income for the close-out quarter. "We have achieved our goal of profitability in a year without a new release of Grand Theft Auto," boasted soon to be ex-CEO Ben Feder, citing Red Dead Redemption and NBA 2K11, "as well as strong sales of catalog titles and digitally-delivered content," as key to the publisher's success.

Take-Two is currently in the midst of a five-month "transition period," having changed its fiscal calendar to now begin April 1 (instead of Nov. 1). Chairman Strauss Zelnick said the company will be focused on "newer areas of the interactive entertainment business, such as digitally-delivered content and the expanding Asian and Latin American markets" through the end of 2010.

Take-Two records $1.16 billion in revenue over last fiscal year, regains profitability originally appeared on Joystiq on Thu, 16 Dec 2010 17:01:00 EST. Please see our terms for use of feeds.

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Take-Two CEO Feder quitting to travel Asia, Zelnick to become CEO

Alexander Sliwinski — Fri, 29 Oct 2010 10:30:00 EST

Friday 29 October

New British trainer at the gym tells me I'm 13 stone. That's better than 70-something kilos, but apparently I've put on weight. It's all my soon-to-be ex-CEO Ben Feder's fault.

Food consumed today: Nothing, yet. But I'm sure the Federator is going to drag me out to McDonalds for lunch again (I do admit I love me a pair of McChicken sandwiches). The movie Super Size Me has nothing on him at the moment, he's taking in everything American he can before jetting -- you should see the pile of Jack in the Box Oreo milkshakes by his desk.

Morning. Brisk autumn day in New York.

Woe is me, Diary,

Going to hold back the tears as I write this. My home slice, Ben Feder, is giving up his position as Chief Executive Officer of Take-Two to "travel Asia with his family for an extended period." I shoulda figured something was up, since every time we went out to a Chinese restaurant he would ask, "Do you think Chinese food is the same in China?"

There is one benefit to the Federator leaving ... I'm gonna be CE-mutha-O! Tee-hee, Diary. Not gonna lie, it feels good to imagine myself as Capt. Picard: "Engage" all projects! Being Take-Two's Executive Chairman is great and all, but C-E-O!

Anyway, one of my executive vee-pees, Karl Slatoff, will take on the "newly created role" of Chief Operating Officer. Oh Di, how silly is this "newly created role" business? Truth is, it hurt a little refilling the spot after my former COO Gary "Gar Bear" Dale left last year -- I left the door open for him and always set out an extra plate at dinner, just hoping he'd come back.

Yeah, so, the official transition of all this will take place on New Year's Day 2011. Looking forward to having Feder show me the ropes of his job, but I don't think my body can handle doing it over lunch meetings at Mickey D's, Burger King and Wendy's every afternoon anymore.

xoxo,
ZelNicky

Take-Two CEO Feder quitting to travel Asia, Zelnick to become CEO originally appeared on Joystiq on Fri, 29 Oct 2010 10:30:00 EST. Please see our terms for use of feeds.

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Carl Icahn now a 13.7% shareholder in Take-Two

Alexander Sliwinski — Mon, 22 Mar 2010 22:00:00 EST

Monday 22 March

70-something kilos. My kilo talk has gotten others thinking I'm moving the company to Canada, but I <3 my NYC.

Food consumed today:
No low-fat blueberry muffins today on the cart. I only like the tops anyway. Heard some pleb in the office talking about Blueberry Muffin Tops as a cereal. Tried some. I'm not opposed.

Afternoon. The beautiful weekend has shifted to gloomy overcast to fit my mood. New York.

Cherished Diary,

What is the iCahn up to? Carl Icahn previously put three of his specially selected associates on the Take-Two board (including iCahn-mini, Brett Icahn) after he obtained 11.3 percent in company stock. Now he's bought another 710,840 shares, which I estimate to cost about $7.1 million, giving him 13.7 percent of Take-Two stock.

The confusing part, Diary, is why? He has over 10 percent already and three iPods on the board, the incremental increase in stock isn't anything big -- it's just, weird, you know? Of course, you know! Diary, that's why I can always trust you! I just wish I knew if he was gearing up to push for a buyout or trying to show more faith in the company now that he has boys on the board. I wish I knew. I really, really wish I knew.

xoxo,
Strudel

[Via IndustryGamers]

Carl Icahn now a 13.7% shareholder in Take-Two originally appeared on Joystiq on Mon, 22 Mar 2010 22:00:00 EST. Please see our terms for use of feeds.

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Take-Two to nominate three new board directors; it's all about the iCahn

Alexander Sliwinski — Thu, 21 Jan 2010 13:15:00 EST

Thursday 21 January

70-something kilos. I've given up on weighing in lbs, kilos are so much kinder.

Food consumed today:
Anything that makes me look suave and like I know what I'm doing. Think I'm on my fifth martini, but I lost count after the fourth.

Early morning, sun looks lovely coming out of the west ... north? ... really need to cut back on the martinis. New York.

Dearest Diary, can I call you Di? Good. Oh, Di, why does Carl Icahn have to be such a meddler? You know what, I'm gonna start calling him iCahn, like an obnoxious Apple product. Hehe, iCahn. So, this guy ... this iCahn, he comes in and buys up 11.3 percent of the company a couple months ago and now he wants to put three of his own iBoys on the board of directors -- actually, I'm pretty sure one of them is an iCahn-mini: Brett Icahn.

I ain't mad, Di. Let iCahn have his iPods on the board, I've been doing my thing since taking over Take-Two in 2007. He's got the right to put some guys on the board and shape things, bring balance -- distract some monkeys on my back. Who knows, maybe the iCahn boys will bring healthy skepticism and deliver productive ideas to improve profitability. Plus, what's the harm? If the winds take iCahn to another project and he holds less than five percent of the company stock, the iPods agree to leave immediately. Just another day in the biz. I kinda miss fighting with EA, this is so mundane in comparison.

[Thanks to Michael Pachter and Jesse Divnich for context]

Take-Two to nominate three new board directors; it's all about the iCahn originally appeared on Joystiq on Thu, 21 Jan 2010 13:15:00 EST. Please see our terms for use of feeds.

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Mafia 2 coming before July 31, 2010

Ben Gilbert — Thu, 17 Dec 2009 21:00:00 EST

During the always thrilling Take-Two Interactive quarterly investors call this afternoon, the ever-elusive Mafia 2 received an almost, kinda sorta release date: Q3 2010. When applying Take-Two's Q3 dates to the Gregorian calendar that most folks on this planet use, we can infer that the game will arrive somewhere between May 1 and July 31. This isn't to say that the title is a shoe-in for release, though, with company CEO Strauss Zelnick saying the game is "scheduled to fall in our third quarter." Remember when Max Payne 3 was scheduled for release in Winter of 2009? Exactly.

Gallery: Mafia II

Mafia 2 coming before July 31, 2010 originally appeared on Joystiq on Thu, 17 Dec 2009 21:00:00 EST. Please see our terms for use of feeds.

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Zelnick: OnLive 'beneficial' to gaming industry, doesn't fit with Take-Two's business model

Griffin McElroy — Tue, 08 Dec 2009 11:30:00 EST

Though most gaming enthusiasts received the announcement of the streaming game service known as OnLive with raw, unmitigated zeal, Take-Two chairman Strauss Zelnick isn't convinced of the platform's revolutionary properties. According to GamesIndustry, Zelnick explained during the UBS Global Media and Communications Conference in New York City, that, if successful, OnLive would "meaningfully and beneficially transform the economics of our business." However, he later added that the digital distribution-centric system "doesn't really speak to our business model."

Zelnick noted the benefits in not having to worry about costs associated with production and distribution, but explained that "the bulk of our business is packaged goods because initial releases are for the console business." He later claimed that OnLive's bold distribution model "probably won't be a sea change in our business." Shortly after that, he did 1,000 sit-ups, and then arm wrestled everyone in the audience simultaneously. Needless to say, he won.

Zelnick: OnLive 'beneficial' to gaming industry, doesn't fit with Take-Two's business model originally appeared on Joystiq on Tue, 08 Dec 2009 11:30:00 EST. Please see our terms for use of feeds.

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Take-Two's Zelnick doesn't believe in annualized GTA

Ben Gilbert — Fri, 04 Dec 2009 11:25:00 EST

If we took away one important lesson from Take-Two chairman Strauss Zelnick yesterday, during the company's investor call, it's this: it takes a lot of time to make "triple-A" games. That's why Zelnick isn't interested in annualizing the Grand Theft Auto franchise. "We don't feel that GTA oughta be an annualized franchise," he said, adding that he was "pleased" the series has been "testing new formats and new platforms" this year with two DLC expansions on Xbox Live and GTA: Chinatown Wars for DS and PSP.

Instead of pushing out a new GTA game every year, Zelnick explained that Take-Two is focused on the "balance between how long it takes to develop such an incredible title that meets consumer expectations and how long you need to make sure than an appetite has been both satisfied and whetted [for the next game]." He padded his point with phrases like "high profitability" and "resiliency of the franchise," though when taken to task over how the publisher expects to make money in a "non-GTA release year" -- and in light of projected, continued losses from its baseball franchise -- he responded, "We remain committed to that goal [of profitability] ... naturally, we are disappointed that we're not projecting to achieve that goal in 2010." Meanwhile, somewhere in California, Bobby Kotick laughed maniacally.

Take-Two's Zelnick doesn't believe in annualized GTA originally appeared on Joystiq on Fri, 04 Dec 2009 11:25:00 EST. Please see our terms for use of feeds.

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Ousted Take-Two CEO Eibeler joins SouthPeak board

Alexander Sliwinski — Tue, 04 Aug 2009 13:29:00 EST

Tuesday 4 August

170-something lbs. of face-palming rage.

Food consumed today:
A lot of really audible snacks and stuff that makes me sound bone-crunchy and vicious, like a Central Park West poodle.

Just past midnight. New York: my penthouse. Do people never learn? Found out today that SouthPeak Interactive has hired Paul Eibeler to be on its board of directors. This is the same guy I had ousted from Take-Two back in '07 -- not to mention, Diary, I'm still bitter about that golden parachute we gave him.

What really wrinkles my suit, though, is this statement by SouthPeak chair Terry Phillips: "As one of the most respected executives in the interactive games industry, we welcome Paul to the board of directors." LOL to the ROFLCOPTER! I laugh in their general direction, Diary. Eibeler was named "Worst CEO" by MarketWatch in 2005 for his handling of Take-Two and the way he dealt with the "Hot Coffee" scandal. I mean, I've taken my licks, but Eibeler getting hired? It's like nobody Googles anymore.

Ousted Take-Two CEO Eibeler joins SouthPeak board originally appeared on Joystiq on Tue, 04 Aug 2009 13:29:00 EST. Please see our terms for use of feeds.

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Zelnick's Take-Two leadership blasted by investor blog

Alexander Sliwinski — Wed, 22 Jul 2009 18:30:00 EST

Wednesday 22 July

170-something lbs. I'm really sad, been putting on some weight and missing workouts.

Food consumed today:
Went total heifer and ate a tub of Cherry Garcia AND Vanilla Heath Bar Crunch. Too upset for anything else.

Late morning. New York: my Take-Two office. Boo! Boo, I say. Meanie McMean-Means at Market Rap, an investors blog site, said not-nice things about me. I was fine with it until the games press -- which I read every day -- started picking up on it. I totally missed my 7AM, 9:10AM and 11:27AM crunch sets because I was so depressed.

Anyway, this Perry H. Rod author guy says that I'm a liar and seems most upset about the stock drop after I brutally rebuffed EA's advances on MY company. He concludes, "If you're keeping score, in a two year period, Mr Zelnick managed to, on three occasions, make vital statements that were within a matter of weeks proven to be either fabricated or just incredibly incompetent (or worse)." Ouch, diary. This dude makes it sound like I'm as bald-faced a liar as Nintendo. It's not fair. I'll turn the company around once the economy picks up. I promise.

[Via GamePolitics]

Zelnick's Take-Two leadership blasted by investor blog originally appeared on Joystiq on Wed, 22 Jul 2009 18:30:00 EST. Please see our terms for use of feeds.

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Strauss Zelnick discusses Q4 release assault, ponders 'chicken and egg' of it

Alexander Sliwinski — Fri, 19 Jun 2009 01:00:00 EST

Thursday 18 June

160-something lbs. Still need to work off that extra E3 weight. LACC food is sooo delish!

Food consumed today:
Nutri-Grain bar. Steak with hollandaise. One of those plasmid drinks we're thinking of tying into BioShock 2.

Late afternoon. New York: my Take-Two office. Just read the VentureBeat interview published yesterday about me. Really hate that picture they used, I'm totally not working my chiseled features. Anyway, they asked me about delaying Red Dead Redemption and Mafia 2. I mean, come on, the holiday season is already packed. People will have even less cash this year. Maybe we'll get lucky and pull a GTA IV release with one of those titles? Haha, Diary. I know, we're not gonna get that lucky.

Anyway, they also asked me about that EEDAR report, which says games sell better in the fourth quarter. That's good and all, but couldn't it be argued that it's a "chicken and egg problem"? Like, people buy during the holiday because that's when games come out? We'll try something a little different. Oh well, that's enough philosophy for one day. Good night, Diary.

Strauss Zelnick discusses Q4 release assault, ponders 'chicken and egg' of it originally appeared on Joystiq on Fri, 19 Jun 2009 01:00:00 EST. Please see our terms for use of feeds.

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Take-Two settles for $3M over old SEC investigation

Alexander Sliwinski — Thu, 02 Apr 2009 12:44:00 EST

Take-Two has agreed to settle for $3 million in a stock-option backdating scheme conducted by the company over a decade ago -- by folks that were punished and haven't been part of the company in years. Take-Two announced years ago that it would pursue the settlement route, accepting the corporate version of pleading "no contest," as the publisher did not admit nor deny the SEC allegations.

In fairness, Take-Two appears to be a very different company under the muscled shadow of Strauss Zelnick, compared to the darker days of Paul Eibeler. Think of this whole incident like the time your uncle got really drunk at Christmas and ... well, you know. Point is: the family has moved on and tries not to remember that.

[Via Gamespot]

Take-Two settles for $3M over old SEC investigation originally appeared on Joystiq on Thu, 02 Apr 2009 12:44:00 EST. Please see our terms for use of feeds.

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Take-Two COO Gary Dale quits

Alexander Sliwinski — Fri, 16 Jan 2009 11:39:00 EST

Filed under: Business

Friday 16 January

150-something lbs. Feeling like I could be on the cover of a magazine.

Food consumed today:
2 Apples. May have snuck something else in, but I'm too busy to recall.

Early in the day. New York: my office. Ugh. Gary Dale, my chief operating officer at Take-Two. You know, my "Gar Bear." Well, he told me he's leaving the company. His day-to-day duties are just done. I think I'm pretty bummed about this, but I'm feeling too good after my workout this morning to get hung up on it.

Anyway, Gary became my COO last year after holding the same position over with those cash cows at Rockstar. We haven't talked publicly about why he's leaving ... sorry, Diary, I can't even tell you. Gar Bear will be officially done with the company on April 15. He's got this thing where it takes him a really long time to say goodbye.

Take-Two COO Gary Dale quits originally appeared on Joystiq on Fri, 16 Jan 2009 11:39:00 EST. Please see our terms for use of feeds.

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Jack Thompson, GamePolitics discuss God's wrath on Take-Two

Alexander Sliwinski — Tue, 30 Dec 2008 23:30:00 EST

Filed under: Business

Jack Thompson. Just when you thought that being disbarred was sure to cause the man to cut back on his theatrics, here comes a story from GamePolitics that is sure to go down as a "classic." In an email exchange between Thompson and GP's Dennis McCauley, the former attorney states that Take-Two's stock tumble is divine vengeance, and he also has some choice things to say about Take-Two CEO Strauss Zelnick.

The exchange should be read in its entirety to grasp what dealing with Thompson is like, and to get a better idea of why the Florida Bar decided to strip him of his license to practice law. Some may find Thompson's statements regarding non-Christians to be offensive. Heck, many Christians might find his statements offensive. This is an opportunity to read Jack Thompson "raw."

Jack Thompson, GamePolitics discuss God's wrath on Take-Two originally appeared on Joystiq on Tue, 30 Dec 2008 23:30:00 EST. Please see our terms for use of feeds.

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Zelnick: It's not a financial crisis, just a 'car crash'

Ludwig Kietzmann — Fri, 05 Dec 2008 19:58:00 EST

Filed under: Business

While talking up better-than-expected Black Friday sales at a Reuters Media Summit in New York, Take-Two Chief Executive Strauss Zelnick took a moment to tackle the global financial situation and its effect on the games industry. "I think everyone was encouraged by Black Friday," Zelnick said. "It was better than expectations, but it's pretty hard these days -- being slightly down is the new up."

However, the Men's Fitness flexer refused to label the situation as a "financial crisis," opting instead for an intricate allegory from the Hideo Kojima School of Convoluted Comparison. "We're still seeing the car crash, and the ambulences [sic] are still showing up at the scene," he posited. "Maybe we're in the emergency room, but we're not even in the intensive care unit yet for a lot of these companies. But they will get there."

But do we have an appropriate health plan? Are we under a general anesthetic? How long is the organ donor list? When we flatline, will we be haunted by the ghosts of all the kids we bullied at school?

Source -- "Zelnick: Welcome to the emergency room"
Source -- "Black Friday sales better than expected"

Zelnick: It's not a financial crisis, just a 'car crash' originally appeared on Joystiq on Fri, 05 Dec 2008 19:58:00 EST. Please see our terms for use of feeds.

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Take-Two CEO says to expect GTA: Chinatown Wars between Feb and Apr

David Hinkle — Thu, 13 Nov 2008 13:47:00 EST

Filed under: News

Take-Two CEO Strauss Zelnick dropped a bomb on all of us anxiously awaiting the DS installment in the Grand Theft Auto series, GTA: Chinatown Wars. Speaking at the BMO Capital Market conference today, Strauss pushed the release of the DS title back into Take-Two's second fiscal quarter, which goes from February through April. That means we're a few short months away from getting down and dirty with GTA on our DSes!

So, who's ready to clean up the streets of Chinatown?

[Via Joystiq]

Take-Two CEO says to expect GTA: Chinatown Wars between Feb and Apr originally appeared on Joystiq on Thu, 13 Nov 2008 13:47:00 EST. Please see our terms for use of feeds.

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Chinatown Wars in Feb-April; GTA IV DLC end of Jan, tentatively

James Ransom-Wiley — Thu, 13 Nov 2008 13:13:00 EST

Filed under: Nintendo DS

Speaking at the BMO Capital Market conference today, Take-Two fitness guru Strauss Zelnick posed some new release dates for the next entries in Rockstar's sprawling crime epic, Grand Theft Auto. All signs point to peace in the streets as we approach Chinatown War's previously marked release in late January. Strauss has pushed the downtown conflict into Take-Two's second fiscal quarter, which runs from February through April.

Possibly joining the isometric pocket pusher in Q2 will be the overdue GTA IV DLC for Xbox 360. Strauss still has his heart set on January, though, as the total package is "close to completed."

Chinatown Wars in Feb-April; GTA IV DLC end of Jan, tentatively originally appeared on Joystiq on Thu, 13 Nov 2008 13:13:00 EST. Please see our terms for use of feeds.

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Take-Two's Zelnick flexes for Men's Fitness

James Ransom-Wiley — Tue, 21 Oct 2008 16:15:00 EST

Filed under: Culture, Business

On the surface, he has it all. A rad name. The chair of a powerful video game publisher. A chiseled bod cut from the blood, sweat and tears of a grueling 5-day workout week. (Dude has meetings while exercising -- confirmed!) But what harrowing skeletons are dangling in Take-Two chairman Strauss Zelnick's closet? ...

We're pretty certain that's not the focus of the next issue of Men's Fitness (on newsstands November 20th), but we will be treated to such compelling insights as: "When someone asks me to have a drink, I suggest the gym instead." Plus: 896 tummy tightening, calorie counting, GET LAID NOW tips!

Take-Two's Zelnick flexes for Men's Fitness originally appeared on Joystiq on Tue, 21 Oct 2008 16:15:00 EST. Please see our terms for use of feeds.

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Take-Two decides to go it alone

Alexander Sliwinski — Thu, 02 Oct 2008 11:30:00 EST

Filed under: Business

Take-Two Interactive announced this morning that it's staying solo. The board met with "various interested parties" over the last five months and decided it was in the best interest of the stockholders to continue building the company independently.

Despite Take-Two's recent stock slump following the EA buyout saga, the company's chairman, Strauss Zelnick, believes it remains competitive in the industry and will maximize value for stockholders. CEO Ben Feder says the company has 15 "wholly owned brands" with sales of over a million units, no debt and an "undrawn $140 million" to play with. Yeah, let's see if that cash gets spent on keeping GTA's Houser brothers.

Take-Two decides to go it alone originally appeared on Joystiq on Thu, 02 Oct 2008 11:30:00 EST. Please see our terms for use of feeds.

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Take-Two confirms meeting with EA, letting offer expire tonight

Alexander Sliwinski — Mon, 18 Aug 2008 13:15:00 EST

Filed under: Business

Just a little while ago, Take-Two announced that EA has agreed to sign a confidentiality agreement and review the object of its hostile financial affection's business plans for the next three years, turning this hostile takeover into something more ... amicable. Take-Two has also confirmed that it intends to let the clock run out on EA's $25.74 per share takeover offer, which expires today at midnight.

At face value, what this means is that EA still wants to buy Take-Two, and that the current offer still isn't reasonable to the Take-Two board. Meanwhile, the FTC will have finished its anti-trust probe on the issue this Thursday. Perhaps once EA gets a look under Take-Two's hood the two companies can come to a mutually agreed upon price to end this saga -- or some other publisher could come out of left field and scoop Take-Two up.

Take-Two confirms meeting with EA, letting offer expire tonight originally appeared on Joystiq on Mon, 18 Aug 2008 13:15:00 EST. Please see our terms for use of feeds.

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Zelnick: GTA isn't Take-Two's only moneymaker

Alexander Sliwinski — Tue, 22 Jul 2008 14:00:00 EST

Filed under: Business

Take-Two Chairman Strauss Zelnick believes the company can be profitable in a non-Grand Theft Auto year. Speaking with Venture Beat, Zelnick explains that while GTA may have been the main source of profitability before, Take-Two is a different company in the wake of titles like BioShock and Carnival Games. Reportedly, the company now has "30 million-plus selling titles, 15 of which are full owned."

Depending on the nature of the content in the first GTA IV DLC (expected later this year), the company might very well see some nice cash flow from the second episode next year. We also have no idea when to expect GTA: Chinatown Wars. From what we can see, GTA is going to be on the T2 fiscal calendar in one form or another for quite some time.

[Via GI.biz]

Zelnick: GTA isn't Take-Two's only moneymaker originally appeared on Joystiq on Tue, 22 Jul 2008 14:00:00 EST. Please see our terms for use of feeds.

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EA extends Take-Two takeover offer to Aug. 18

Alexander Sliwinski — Mon, 21 Jul 2008 11:10:00 EST

Filed under: Business

With another deadline in EA's takeover bid come and gone, the industry's #2 publisher isn't quitting and has reaffirmed it still wants to gobble up Take-Two by extending its $25.74 per share offer deadline to Aug 18. EA currently has only 15% of Take-Two's stock, which translates to 11,741,339 shares. Obviously, EA needs over half the shares to complete the takeover.

Take-Two chairman Strauss Zelnick released a statement that the company's board is "100% committed to maximizing stockholder value," calling EA's bid "inadequate" and recommending stockholders not take the EA offer. He says that Take-Two is currently "engaged in meaningful discussions with multiple parties" and that some of those groups have been conducting due diligence (a fancy legal term for checking under a company's hood and making sure everything looks kosher). Meanwhile, the FTC is probing the deal over possible antitrust issues and should be finished by Aug. 21.

Source - EA extends deadline to Aug. 18
Source - Take-Two responds to fifth extension

EA extends Take-Two takeover offer to Aug. 18 originally appeared on Joystiq on Mon, 21 Jul 2008 11:10:00 EST. Please see our terms for use of feeds.

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Joystiq live at E3 2008 Take-Two press conference

Alexander Sliwinski — Wed, 16 Jul 2008 13:50:00 EST

Filed under: Nintendo DS, Sony PlayStation 3, Nintendo Wii, Microsoft Xbox 360

10:44 am PT: Just chilling as the press-type folk move on in. Linkin Park is playing,

10:46 am: Strauss takes the stage

Continue reading Joystiq live at E3 2008 Take-Two press conference

Joystiq live at E3 2008 Take-Two press conference originally appeared on Joystiq on Wed, 16 Jul 2008 13:50:00 EST. Please see our terms for use of feeds.

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Overheard@E3: Zelnick don't like badges

Alexander Sliwinski — Wed, 16 Jul 2008 09:45:00 EST

Filed under: Culture, E3

Yesterday we learned Strauss Zelnick, the Charmain of Take-Two and the man standing brave against the hostile EA takeover, doesn't like wearing his E3 badge. While waiting to see 2K's latest offerings, the very polished Zelnick, who looks identical to his head-shot above, walked in and handed his badge off to the lady behind the desk exclaiming, "I hate wearing these things!"

Dude, we're totally with you! But, we're not the Strauss Zelnick. We'd love to join you in solidarity, but then security would probably kick us out.

Overheard@E3: Zelnick don't like badges originally appeared on Joystiq on Wed, 16 Jul 2008 09:45:00 EST. Please see our terms for use of feeds.

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Bioshock 3 confirmed, likely coming with the movie

Terrence Stasse — Fri, 06 Jun 2008 15:00:00 EST

Filed under: News

While it was assumed when there was an announcement of Bioshock 2, it's now been confirmed that the series is officially set to be a trilogy. In an investor conference call Strauss Zelnick, Take-Two CEO discussed the movie and the likelihood that it wouldn't be ready in time for the second game (duh) but that it could see release alongside the third in the series. Given the surprising sales of the first game and the potential of the IP at this point, Bioshock 3 is as sure of a thing now as Halo 3 was in 2003. That is to say financially guaranteed, but a long way off.

Bioshock 3 confirmed, likely coming with the movie originally appeared on Joystiq on Fri, 06 Jun 2008 15:00:00 EST. Please see our terms for use of feeds.

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Zelnick: GTA IV is glitch-free, Us: There's a GTA IV patch coming today

Justin McElroy — Wed, 07 May 2008 12:30:00 EST

Filed under: Business

Take-Two boss Strauss Zelnick's recent interview with CNBC may just be the least surprising one you'll hear all month. First off, he thinks the company made the right moves in holding Grand Theft Auto IV back from its original release and in refusing to acquiesce to the advances of Electronic Arts. Can you believe it?

Also, Zelnick insists that there are no glitches in GTA IV, which makes the news of today's incoming multiplayer patch for the PS3 version of the game just hysterical. Of course, when Strauss said that glitch line, we're pretty sure the interviewer was asking him in her own Draconian fashion if there's any hidden doin' it in the game. Now we're wondering if he's wrong about that too.

Update: The v1.01 patch is now live (18 MB) -- thanks to everyone for the heads-up!

Zelnick: GTA IV is glitch-free, Us: There's a GTA IV patch coming today originally appeared on Joystiq on Wed, 07 May 2008 12:30:00 EST. Please see our terms for use of feeds.

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Take-Two's Zelnick on selling to EA, making new IPs, and GTA IV

Christopher Grant — Tue, 27 Nov 2007 23:20:00 EST

Filed under: Sony PlayStation 3, Microsoft Xbox 360, Business

When Strauss Zelnick and his band of merry cohorts (read: Take-Two investors) took over the beleaguered gaming publisher last March, lots of industry pundits thought the veteran biz guy would fix it up and sell it off (EA perhaps?). Speaking at the Reuters Business Summit, Zelnick said, "I'm much more interested in growing the business than in selling it, to be clear."

Zelnick's been working on improving the efficiency of the company (like selling off that silly peripheral business), planning on growth (sell the company? Heck, they're probably going to be hiring!), working on building new IPs instead of licensing them (BioShock did swimmingly) and, oh yeah, GTA IV, about which he says, "I believe this release, Grand Theft Auto IV, is going to be vastly better than those expectations -- vastly better -- and that's hard to do when expectations are so high." Don't call it a comeback.

Take-Two's Zelnick on selling to EA, making new IPs, and GTA IV originally appeared on Joystiq on Tue, 27 Nov 2007 23:20:00 EST. Please see our terms for use of feeds.

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