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Things looking very bad for Take-Two


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Earlier on we reported about Rockstar Games getting sued by Los Angeles City Attorney, Rocky Delgadillo, for allegedly hiding sexual content within GTA: SA when it was submitted to the ESRB for rating. Well things just got worse! The company that owns Rockstar Games, Take-Two Interactive, had a tough afternoon in New York this Friday when shares plumitted by $3.29 to $13.74. That's a drop of 19%!

The Banc of America said it expected Grand Theft Auto next (GTA 4) to be released in 2007, which according to them, is later than expected. They also said Take-Two is spending money "at an alarming rate". They believe that each share is worth $12, and not $17. If that is not enough, one of the board members, Barbara Kaczynski, resigned on Wednesday saying that the company's management failed to keep the board up to date about all the important issues.

Of course this is no news about Grand Theft Auto. But things are looking very bad for the games publisher. Making games costs money, and if there's no money then... well then there's no game. Perhaps we'll be seeing other companies, such as Sony for instance, that might want to buy Rockstar Games out. Grand Theft: Turismo anyone?

Sources: Los Angeles Times and Market Watch

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