Rough times for Take-Two on the horizon
- Posted December 11th, 2007 at 21:40 EDT by Eric Blattberg
- 2,771 views
- 15 Comments
While Take-Two has one of the biggest industry franchises in their pockets -- Grand Theft Auto -- they are anything but financially secure. Grand Theft Auto IV's delay to early next year has proven to be disastrous for the struggling publisher's welfare.
The Street reports that the company disclosed it had increased its five-year revolving credit facility to $140 million from $100 million and secured it using the company's assets in both Europe and the U.S. as of last month.
Simply put, the company needs GTA IV to sell millions of copies as soon after its release as possible in order to recoup their mounting losses.
It appears the title will do just that, if analysts are to be regarded as somewhat reliable.
According to Evan Wilson of Pacific Crest Securities, "There are several catalysts lining up for Take-Two in the next five to six months. Take-Two is one of the few companies that has a very significant game coming out...investors will see it...do well on a relative basis."
Take-Two's shares rose by approximately 5.7% after his prediction last month, but have dropped around 10% throughout the entire year. We'll see if Rockstar's GTA IV can help recoup those losses come early next year.
Comments
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BD_BLACKAZZ |
BD_BLACKK- 9:46pm GMT - December 11th, 2007
- 1
they will recoup that money back theres to many people who want GTA its want of the most anticipated games of 2008!!!!!!!!!!
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galaxyman14 |
Apollo15- 10:44pm GMT - December 11th, 2007
- 4
Both GTA4 and Midnight Club LA look amazing. If they can get those games out they'll be fine.
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oopsadoops |
hbears93- 11:12pm GMT - December 11th, 2007
- 5
if they can push this one out,
they should be alright.
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D3v1lwqer23
- 12:36am GMT - December 12th, 2007
- 7
I will probably buy GTA release day...but something inside of me wants to not buy it to add to their suffering even the least bit, all because of that under the table Microsoft bribe. That upset me that this company that has had millions of Sony faithdul, and GAVE GTA THE BOOST it needed to become a smash on both consoles and PC. But I know the part of me that wants a great game will win out and buy it day one.
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Alpha2
- 3:05am GMT - December 12th, 2007
- 9
They cant all be the same, the next part is mroe than just a graphicsal upgreade or atleast it SHOULD be as they usually use full number sequels to mark milestones in design. So the game play will be tweaked the graphics will be better and the controls should feel a lot different.
With all the additions we already know about the game, to say this is the same as al the previous ones is just plain ignorant. You can say it might not be good sure but you cant say it's the same game.
Athough I will admit I'm worried about the graphics in terms of frame rate. the latest trailer shows some HORRRENDOUS frame rates, some shots looked like they were 15 frames ber second just in the cinemas... I hope that's just poor optimization that'll be fixed soon.
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Paranoimia |
Paranoimia- 8:18am GMT - December 12th, 2007
- 10
I'm one of few people (it seems) who isn't sold on this game.
I had GTA3 and loved it. I got Vice City and loved it - I even bought the soundtrack album! But San Andreas I just didn't take to. I hated the music, and graphically it wasn't as good as Vice City, I felt. So - purely down to San Andreas - GTAIV isn't on my 'must have' list at the moment. But it is one that I'm keeping a close eye on.
Plus, I'm interested to see what they provide in the the way of online and DLC, after signing the exclusive content deal with MS.
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Clarky_psu |
clarky-132- 9:33am GMT - December 12th, 2007
- 13
I think they made the mistake of bringing it to the Xbox360, they would of saved way more if it were exclusive to ps3!!!!!!!
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princevegeta1980
- 9:36am GMT - December 12th, 2007
- 14
i just can't wait to get this game, even if graphiques were less good on san andreas than vice city i thought it was a whole lot better, especially being able to swim. i wonder what exactly we'll be able to do in gta4, can't wait!!!!
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PS3-The Ultimate Machine
- 8:30am GMT - December 13th, 2007
- 15
If Take Two can take the heat until GTA IV,then they're definitely not going out of business anytime soon.
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