Following recent news that EA had dropped all plans to acquire industry heavy-weight Take-Two, Strauss Zelnick and his board have announced that they've completed a review of strategic alternatives for the company. Take-Two, the parent company of Rockstar Games and the 2K Games label have announced that it is in their best interests to continue operation as an independent company, after looking over alternatives. The review comes at a time where world financial markets are said to be in turmoil, with it possible this the last piece of news we'll see in regards to EA's planned take over of the company. In regards to the release of review by Take-Two, Strauss Zelnick, Chairman of the Board remarked that:

Take-Two's Board of Directors and management have a clear mandate from stockholders to maximize value. We are strongly positioned creatively, financially and competitively to benefit from the opportunities we see in the fastest growing segment of the entertainment industry. Our management and[is?] outstanding and [our] talented employees have maintained an unwavering focus on our products and our business through this lengthy strategic review process and we are confident in our prospects. We remain focused on maximizing value for stockholders and are executing on our business strategies in a determined manner.

Grand Theft Auto IV is undoubtedly Take-Two's largest success

Take-Two's recent performance demonstrates our potential to create value for the long term. We have delivered solid financial results and expanded our portfolio of leading titles, which includes the powerful Grand Theft Auto franchise, as well as 15 other wholly owned brands with sales of more than one million units each. Our strong cash position – with no debt and an undrawn $140 million credit facility – gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect.

+

3