But Take-Two is facing a host of threats and-- with or without combination with EA--we believe there is a strong likelihood that the company will be sold in the not-too-distant future.
This offer is subject to Take-Two agreeing by Feb. 22, 2008 to commence negotiation of a definitive merger agreement and to permit EA to commence a limited due-diligence review of Take-Two.
While Activision has raised its full-year forecast promising a "record-setting" year, EA has had to lower its outlook for the current period blaming its latest Medal of Honor and NBA Basketball games for having "disappointed" and its Star Wars: The Old Republic role-playing title for having "underperformed".
In short, a combination with EA would provide Take-Two's studios and employees a combination of the right resources for investment and global reach, and the right environment to do their best work.
Citing Take-Two's "long and uneven history, " Riccitiello argued Monday that EA would be a "great home" for Take-Two developers--adding that EA's offer won't be good forever.
But without a true mega-blockbuster, EA seems slightly more at-risk than its peers as the landscape rapidly evolves.
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The fiscal year ended in March was subpar, and in the first quarter EA suffered a loss--something it hadn't had since fiscal year 2001, amid the changeover from PlayStation 1 to 2.
Fable 2 let players choose their sexuality, and pre-EA BioWare included a lesbian character in Star Wars: Knights of the Old Republic, a game that never stirred up even close to the amount of controversy Mass Effect 3 drummed up.
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The latest sci-fi horror shooter from EA includes micro-transactions, despite being a paid game.
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On the software side, meanwhile, HP's pre-installing a few board games like EA Monopoly, and there's a physical key you can use to flip the screen orientation when it's another player's turn.
In a statement Sunday, Take-Two said EA's bid undervalues the company and described the offer as "highly opportunistic and is attempting to take advantage of our upcoming release of 'Grand Theft Auto IV'" which hits stores April 29.
In a note to investors, Oppenheimer analyst Shawn Milne argued that EA would be paying big money for a franchise--"Grand Theft Auto IV"--whose developers could simply walk away.
This approach has angered many gamers who would much rather have a flat-rate cost to purchase the game, rather than a feeling of being squeezed by EA for a few dollars more.
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In particular, I am confident that the investments we have made in games for next-generation consoles will put EA in a strong leadership position for many years ahead.
We believe that moving quickly to negotiate and conclude our proposed merger is in the best interests of Take-Two and EA. Waiting for a later date leaves open significant uncertainty regarding the timing, the probability and the value of a potential transaction, and is not in the best interests of either company or Take-Two's stockholders.
That it was a subscription-based MMO in an age of free-to-play online games only made matters worse, and EA moved the game to a F2P model in 2012.
I'm pleased to announce that EA has made a proposal to acquire Take-Two.
We do not intend to make this letter public, and our offer will automatically terminate and be withdrawn in its entirety if any portion of this letter, or the existence of discussions between EA and Take-Two relating to a possible business combination, are disclosed to any person other than the directors and officers of Take-Two and its legal and financial advisors.
Hopefully EA fixes this and sends out a new survey post-haste.
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The new agreements with EA and Take-Two will provide fans with a diverse offering of NBA video games, including 5-on-5 simulation and arcade style games that will be available on video game consoles, online, and through mobile devices.
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Take-Two's creative teams are an essential part of the Take-Two business, and we believe EA would offer a stable and supportive environment for your studios to focus on developing great new games with the backing of a global games industry leader.
Softkinetic is making a play for the videogame market, forming partnerships with game-makers like EA Sports.
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First, remember that EA handles a TON of games, so most any non-new-release will quickly fall below that threshold.
Even so, trying to rev up a sports game business would take time--and even that would give EA an extra advantage.
Ashby was at the controls of the EA-6B Prowler when it sliced the cable of a ski gondola on February 3, 1998.
Star Wars, and EA hopes that fan interest in a wide open, well-scripted world in the Star Wars universe will propel it to success.
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We also believe that EA's proposal to acquire Take-Two is a good one for the people that make the games or are involved in leading these creative teams.
The fact that EA is developing its prized top-selling racing franchise as a mass-multiplayer-online game is another big step for the company here.
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Hamilton talks about the announcement at GDC, where after the open bar and the trailer, EA trotted out the director of An Inconvenient Truth, a co-founder of Twitter and the head of Charity:Water.
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