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In the News #33 – 2/25/2008

Daily News for February 25th, 2008.

  • Phil Harrison, the President of Sony Computer Entertainment Worldwide Studios, has announced that he is to be parting ways with the company after 15 years on the job. In a statement released today, Harrison said that his resignation will be effective as of February 29th, 2008.
  • Electronic Arts attempted to buy out Take-Two Interactive over the past couple of days, but Take-Two gave them a final answer of “Not right now.” After all of that was said and done, EA made a new website directly regarding this situation. You can find it at: eatake2.com
  • Microsoft has announced that they are completely shutting down their HD-DVD format. They will no longer build the add-on HD-DVD player for the Xbox 360, but will continue customer support on existing units.
  • It has also been announced that the HD-DVD player add-ons for the Xbox 360 have received a major price drop from $129.99 to $49.99. The package contains the player, an Xbox 360 Media Remote, a USB 2.0 cable and a copy of King Kong on HD-DVD.
  • This doesn’t affect the game industry directly, but Sony has announced several changes to the administration of the company other than Phil Harrison resigning. Robert Dyer will be Senior Vice President of Publisher Relations, Ian Jackson will be Vice President of Sales and Sally Buchanan will be Vice President of Human Resources.

The Week’s Releases #14

Video Game releases for the week of February 26th, 2008 – March 3rd, 2008.

Tuesday, February 26th, 2008
ArmA: Gold – PC
Blokus Portable: Steambot Championship – PSP
Brain Assist – DS
Bubble Bobble Double Shot – DS
Cocoto Magic Circus – Wii
Disney Friends – DS
Fantasy Aquarium – DS
Lost Planet: Extreme Condition – Playstation 3
Lost: Via Domus – PC, Playstation 3, Xbox 360
Naratu: Ninja Destiny – DS
Patapon – PSP
Petz Wild Animals: Tigerz – DS
Red Baron (2007) – PC
SEGA Bass Fishing – Wii
The Sims 2 FreeTime – PC
The Sims 2 FreeTime (Limited Edition) – PC
Turning Point: Fall of Liberty – PC, Playstation 3, Xbox 360
Turning Point: Fall of Liberty Collector’s Edition – Xbox 360

Wednesday, February 27th, 2008
Puzzle Guzzle – PSP
Spitfire Heroes: Tales of the Royal Air Force – DS
Triggerheart Exelica – Xbox 360

Thursday, February 28th, 2008
RHEM 3 – PC

Friday, February 29th, 2008
Cabal Online – PC
Magic Online III – PC
Powerboat GT – PC

Monday, March 3rd, 2008
Bully: Scholarship Edition – Xbox 360, Wii
Galactic Commando – Echo Squad Special Edition – PC
Let’s Ride! Friends Forever – DS
Major League Baseball 2K8 – Playstation 2, Playstation 3, PSP, Xbox 360, Wii
MLB ’08: The Show – Playstation 2, Playstation 3, PSP
The Lost Crown: A Ghost-Hunting Adventure – PC
Spaceforce Captains – PC
Stranger – PC

Division-Gaming Network v2

It’s Coming

 

Spring 2008

.

EA Bids on Take-Two, then gets rejected (twice)

Over the past couple of days, gaming giant Electronic Arts has bid on Take-Two Interactive with two different offers. The first one being for $25 a share, which was rejected.

The second offer came around midday yesterday for $26 a share. This offer is roughly $2 higher than Take-Two’s highest share price over the past year. Coming late yesterday, a press release was issued stating that “Take-Two Interactive Software’s board rejects Electronic Arts’ unsolicited proposal as inadequate.”

“Given the great importance of the Grand Theft Auto IV launch to the value of Take-Two, the Board has determined that the only prudent and responsible course for [Take-Two] and its stockholders is to defer these discussions until immediately after Grand Theft Auto IV is released. Therefore, we offered to initiate discussions with EA on April 30th, 2008 (the day after Grand Theft Auto IV is scheduled to release).”

In letters from EA, reasons were given why they think Take-Two should be bought out now.

  • They think once GTA IV ships, the share price and value of the company will go down.
  • They also believe that since the company is pretty much done developing GTA IV, now would be the perfect time to merge so there would be minimal disruption inside the company.

Original Source: Reuters
Yahoo! Finance: Take-Two’s Share Chart
Newest Press Release: Take-Two Rejects EA
Network Source: GTA-Division.com