Everyone’s talking about Microsoft’s desire for Yahoo, but there’s another powerful company busy courting a playing-hard-to-get bride.
LA Times has the story:
Electronic Arts Inc. on Sunday launched a $2-billion takeover bid for troubled video game publisher Take-Two Interactive Software Inc., stepping up the industry’s torrid pace of consolidation.
EA disclosed that Take-Two, the New York-based publisher of the “Grand Theft Auto” series, had recently rejected two all-cash buyout offers. EA, the world’s largest game publisher, made the higher bid public Sunday and said it would bring the offer directly to Take-Two’s shareholders.
Buying Take-Two would provide EA with a genre known as “open world action,” in which players have fewer set paths within the game and more freedom to choose what their characters do. It also would give EA control over Take-Two’s 2K Sports label, EA’s only significant rival in the highly lucrative sports game category.