News Bytes

Wednesday News Bytes: Trouble in Take Two Land, Microsoft sued and More!

There is something wrong with this picture. Take Two Interactive just announced a Q1 loss of $50.4 million. Grand theft Auto IV, their “knockout punch of a game” brought in $60 million and was responsible for close to half of the total revenue. Think about that. Take Two’s losses for the quarter were almost as much as the amount of revenue GTAIV brought in for the company. How is Take Two going to shake off the label of a one trick pony if the one game they rely one isn’t saving them outright? Do they expect Bioshock 2 to bat clean up?

From what I see, here is another great example of a company getting too big with people acting as CEO’s. One can only rely on Grand Theft Auto so much to dig themselves out of a hole before they can’t use it anymore because they have used it so much. Sounds like me they are waiting for the next hit. Borderlands anyone?

News Bytes for Wednesday, March 11:

• Q1 loss for Take Two interactive is 50.4 million compared to a loss of 38.0 million of Q1 2008. And this quarter they had GTAIV. Ouch. Shares of TTWO were up $.84 before the close of the market and the earnings announcement. During after hour trading the stock fell $.45 to $6.40…
• Take Two also announced its lineup for the rest of 2009. The releases include: Bioshock 2, Borderlands, Grand Theft Auto Chinatown Wars, Grand Theft Auto 2nd Episode and Mafia 2…
• The Official Nintendo Magazine of the UK handed out the first review for Grand Theft Auto Chinatown Wars…94 out of 100. Not bad…
• Microsoft is being sued by Paltalk Holdings for $90 million big ones for copyright infringement on its online patents…

SOURCE gamesindustry.biz
SOURCE prnewswire.com
SOURCE vg247.com

Tags: Nintendo (NTDOY), Take Two (TTWO), TTWO