Electronic Arts has executed a commitment letter for up to $1 billion in debt financing to prop up its bid for fellow publisher Take-Two, the company said Friday. EA said in an SEC filing that it has had more than the amount needed to cover the Take-Two acquisition, currently valued at around $2.1 billion, set […]
Codemasters today revealed it has acquired the Formula 1 licence, ending Sony’s four year ownership of the franchise and paving the way for a new series of current generation F1 titles across all major formats.
Chris Deering, chairman at Codemasters said, “[Our] success and recent innovations in the racing game space makes the company more than […]
After Electronic Arts lowered its offer to acquire Take-Two from its original offer $26 per share to $25.74, Take-Two still has rejected the offer.
“[EA’s proposal] undervalued the company at $26 per share, and it certainly undervalues Take-Two at $25.74,” chairman Strauss Zelnick, said in a statement Friday following the revised offer.
The Walt Disney Co.’s video game arm has reportedly agreed to buy a Chinese game developer as the U.S. entertainment company seeks to expand its presence in China. Disney Interactive Studios plans to buy Chinese company Gamestar, the gaming affiliate said in a statement seen Tuesday. Terms of the deal were kept confidential.
Founded in 2002, […]
The EA-Take-Two saga continues as Electronic Arts (EA) has extended its offer to buy Take-Two from midnight on April 11 to 11:59 p.m., April 18. EA says the extension is in response to action taken by Take-Two on March 26, including putting a “poison pill” in place and pushing its 2008 annual meeting of stockholders […]
EA is now turning to Take-Two’s shareholders to divest them of their share at $26 USD, The same amount offered by EA to Take-Two’s board of governors. EA big boss John Riccitiello says:
This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize […]
Dear Team:
Last week we informed you of EA’s unsolicited proposal to acquire Take-Two, which our Board rejected. Although there is no update on the proposal, we have been working to substantively address the understandable concerns that some of you may have as a result of the proposal. Therefore, we have established a formal severance plan […]
Only hours after Electronic Arts had proposed a $26/ share (approximately $2 billion in total) offer to buy out Take-Two Interactive, the Take-Two board have responded with an absolute “No.”
According to Reuters, Take Two has said that the offer was at a “devaluation” of what the company has done and is trying to do and […]
The Intarwebs were buzzing for the past few days due to rumors that Viacom was attempting to buy Take-Two. This is not true, according to a report by Reuters.
News of the rumors spiked shares of Take-Two 12 percent on Thursday. But unfortunately, it was just wishful thinking. Reuters sites an unnamed source “familiar with the […]
Today’s story about Star Trek Online’s licensing change has prompted w00tstudios to dig deeper and find out from anonymous sources that City of Heroes/Villains developers Cryptic Studios has acquired the license for Star Trek Online.
Games Industry Wire: Games industry news from b5media
Written by Kevin Codamon [email] for b5media.
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