TheStreet.com takes a look at the brief history of Take-Two's current management, investment firm ZelnickMedia, from boardroom coup to the possible takeover by Electronic Arts and how they got where they are today.
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Any US citizen who was officially "offended and upset" by the ability to unlock this hidden content [hot coffee mod] can now claim up to $35 in compensation.
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Take-Two will report financial results for the second quarter ended April 30, 2009 on May 26. A live, listen-only webcast of the call will be available at http://ir.take2games.com and a replay will be available following the call at the same location.
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Today, Take-Two revealed that they are being sued by a shareholder for not selling the company to Electronic Arts. Michael Maulano is accusing Take-Two of being at fault in their fiscal duties by not talking to EA and for engaging in various measures to protect themselves from being bought out. This suit is different from the one that came about in early March.
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In the TTWO conference call, the CEO provided LTD sales figures for many of TTWO game franchises.
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Take Two has announced the closing of the 2K NY office. Although most jobs are being moved to their West Coast office and none of the firings were developers, analysts are still predicting this is the beginning of the end for Take Two. Not many people would be surprised if Take Two goes up for sale within the next year.
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"Publisher Take-Two has announced the formation of Northern California-based development studio named 2K Marin. Located in Novato, California, the new studio will focus on the development of original intellectual property, as well as co-developing games with other 2K studios globally."
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Well, the verdict is in and it looks like Take 2 is looking at a loss of $50 million in its second quarter financials. Although redundancies will most likely be one of the ways publisher will handle cutting the$25 million worth of costs by the end of the next fiscal year, no one particulars on who or when the lay-offs will take place.
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"This evening's Take-Two Fourth Quarter Fiscal 2007 Results Conference Call wasn't exactly a Queens of the Stone Age concert, I know shocking right? There were some marginally interesting tidbits that floated out of the stream of fiscal data."
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Take-Two interactive, publishers of the popular Grand Theft Auto and 2k sports series as been approved for a credit up to $100M from Wells Fargo Foothill Inc.
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