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EA take out $1billion loan buy Take Two

The_ScarabThe_Scarab Registered User regular
edited May 2008 in Games and Technology
SEC filings have revealed that Electronic Arts borrowed $1 billion from Morgan Stanley and other lenders to help finance a possible acquisition of Take-Two.

"There's no news here," said EA VP of communications Jeff Brown. "This is just a process point on something we announced in February."

With $2.3 billion on hand in cash, cash equivalents and short-term investments, EA already has the funds available to do the deal as it currently stands. With the deal not contingent on financing, why borrow more money?

"It helps us maintain maximum flexibility for any opportunities," said Brown.

Take-Two had no comment as of press time.

http://kotaku.com/389174/ea-takes-out-1-billion-loan-for-take+two-acquisition

The_Scarab on
«134

Posts

  • HoukHouk Nipples The EchidnaRegistered User regular
    edited May 2008
    Worst case scenario: Take Two doesn't bite and they use the cash to build a bitchin waterslide instead.

    Houk on
  • JastJast Registered User regular
    edited May 2008
    Let's see, EA has Bioware, maker of Mass Effect. They have Pandemic, maker of Mercs, and now they want Take Two so they can have GTA? I really hope this doesn't go through, killing off the competition.

    Jast on
    Jast39.png
  • Zilla360Zilla360 21st Century. |She/Her| Trans* Woman In Aviators Firing A Bazooka. ⚛️Registered User regular
    edited May 2008
    GTA09.jpg

    Zilla360 on
    |Ko-Fi Me! ☕😎| Steam. | PSN | ♾ (C.H.I) Ltd. |🏳️⚧️♥️
  • AngryAngry The glory I had witnessed was just a sleight of handRegistered User regular
    edited May 2008
    killing of the competition? man what? they want to make boatloads of money and owning the gta franchise is a good way to secure your future money hoarding.

    Angry on
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    Since GTA3 was released there has been a GTA game released every 1.15 years.


    So you know, dont pin that annual content shit on just EA.

    The_Scarab on
  • JastJast Registered User regular
    edited May 2008
    Angry wrote: »
    killing of the competition? man what? they want to make boatloads of money and owning the gta franchise is a good way to secure your future money hoarding.

    I don't mean they're doing it to kill the competition. I'm saying those are a lot of big franchises, it would suck to see them ALL under EA.

    Jast on
    Jast39.png
  • AngryAngry The glory I had witnessed was just a sleight of handRegistered User regular
    edited May 2008
    why?

    Angry on
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    cause ea is evil lolz and makes shit games.


    of course as long as you enjoy what i would consider the second best game of last year (skate)

    The_Scarab on
  • JastJast Registered User regular
    edited May 2008
    Their practices for one. SecureRom? Then there's one company owning a lot of big franchises. Saint's Row has come close but it still hasn't reached the popularity of GTA. Well, there used to be Mercs but Pandemic is owned by EA now. I'm just worried EA will milk all these Franchises for money, giving the customer a shoddy product. It's interesting how EA has wanted to buy a lot of popular franchises.

    Look, I'm not saying EA is evil, but I don't care if it was microsoft, one company owning all of these major franchises doesn't sit too well with me. Yeah, yeah, they're out to make money of course, like everyone else.

    Jast on
    Jast39.png
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    The_Scarab on
  • PongePonge Registered User regular
    edited May 2008
    That is interesting. If only it made good business sense then they'd really be on to something...

    ...Oh wait.

    Ponge on
  • GrimReaperGrimReaper Registered User regular
    edited May 2008
    Houk wrote: »
    Worst case scenario: Take Two doesn't bite and they use the cash to build a bitchin waterslide instead.

    Unfortunately you'll only be able to use the waterslide 3 times.

    GrimReaper on
    PSN | Steam
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    I've got a spare copy of Portal, if anyone wants it message me.
  • JastJast Registered User regular
    edited May 2008
    Hey, I didn't say Take Two wasn't milking it either. And GTA IV sure is missing a lot of features. But at least with GTA III, Vice City, and San Andreas, there were new features added.

    Edit: Whatever happens, I'll probaly buy the next GTA, Mercs 2, and Mass Effect 2, so the whole point is moot anyways.

    Jast on
    Jast39.png
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    Then why is it reasonable to expect T2 to produce a quality product annually but not for EA. The acqusition would mean little in terms of internal restructuring.

    Like the Pandemic/BioWare buy, this is a business move not a creative move.

    The_Scarab on
  • Dr SnofeldDr Snofeld Registered User regular
    edited May 2008
    Zilla360 wrote: »
    GTA09.jpg

    Damn you, Madden Kirby's gonna give me nightmares again!

    Dr Snofeld on
    l4d_sig.png
  • Lord YodLord Yod Registered User regular
    edited May 2008
    The_Scarab wrote: »
    of course as long as you enjoy what i would consider the second best game of last year (skate)

    Yeah, this isn't automatically a bad thing. They've been bringing some interesting new innovative games out lately.

    Lord Yod on
    steam_sig.png
  • TheSonicRetardTheSonicRetard Registered User regular
    edited May 2008
    The_Scarab wrote: »
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    GTA3 - 10/22/01
    GTA Vice City - 10/27/02
    GTA San Andreas - 10/26/04
    GTAIV - 4/29/08

    Every year my ass.

    TheSonicRetard on
  • TheSonicRetardTheSonicRetard Registered User regular
    edited May 2008
    Gotta give EA credit, though. They certainly are living up to their threat that they "can't let something like All-Pro football happen again"

    TheSonicRetard on
  • DrezDrez Registered User regular
    edited May 2008
    Jast wrote: »
    Let's see, EA had Westwood, Bullfrog, and Origin and fucked them into the dirt, and now they want Take Two so they can have GTA? I really hope this doesn't go through, murdering the competition.

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    TheSonicRetard wrote: »
    The_Scarab wrote: »
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    GTA3 - 10/22/01
    GTA Vice City - 10/27/02
    GTA San Andreas - 10/26/04
    GTAIV - 4/29/08

    Every year my ass.

    You forgot Liberty City stories in 2005 and Vice City Stories in 2006..
    Those are GTA games.

    The_Scarab on
  • The Sneak!The Sneak! Registered User regular
    edited May 2008
    TheSonicRetard wrote: »
    The_Scarab wrote: »
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    GTA3 - 10/22/01
    GTA Vice City - 10/27/02
    GTA San Andreas - 10/26/04
    GTAIV - 4/29/08

    Every year my ass.

    Don't forget Liberty City Stories and Vice City Stories. I have no clue when those were released, I just want them in the list.

    EDIT: scarab sucks cock

    The Sneak! on
  • DrezDrez Registered User regular
    edited May 2008
    Seriously:

    Some Guy: "Hey, we're sorry about fucking Westwood, Bullfrog, and Origin into the dirt a while back. Don't worry, we won't swallow up any more small companies and fuck them into hell with our gigantic moneybags."

    Some Other Guy: "Hey, look, we have all these coffers brimming with gold. What should we do with them?"

    Some Guy: "Hmm. How about we stick to our guns and NOT buy off small companies and chew them up into bonemeal and fart them into the gaming graveyard like we did so many years ago?"

    Some Other Guy: "I agree! So what should we do?"

    Some Guy: "The exact opposite, of course!"

    Some Other Guy: "Hmm, what's the exact opposite of not buying small companies and fucking them into the ground, nailing the coffin shut, and shitting on them with a manure producing a stench so foul that no one would ever dare approach to exhume the remains of our slain brethren?"

    Some Guy: "Buying BIG companies of course. HUGE companies. What we do is put all our gold into a bag, see, and then jiggle the bag in front of investors. Then they give us MORE bags and we use these to buy BIG companies and cockslap them into vampire dust."

    Some Other Guy: "Fine by me, Mr. CEO."

    Same Guy: "Same here, Mr. CFO."

    Keanu Reaves cameo: "Whoa."

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    Suck is not nearly a strong enough word for the acts I perform.

    The_Scarab on
  • TheSonicRetardTheSonicRetard Registered User regular
    edited May 2008
    The_Scarab wrote: »
    TheSonicRetard wrote: »
    The_Scarab wrote: »
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    GTA3 - 10/22/01
    GTA Vice City - 10/27/02
    GTA San Andreas - 10/26/04
    GTAIV - 4/29/08

    Every year my ass.

    You forgot Liberty City stories in 2005 and Vice City Stories in 2006..
    Those are GTA games.

    There's a big difference between a handheld rehash using all the same assets from GTA3 and GTAVice City and a new game.

    Or are we going to start claiming that we had a new zelda game every year since OoT?

    TheSonicRetard on
  • KhavallKhavall British ColumbiaRegistered User regular
    edited May 2008
    The_Scarab wrote: »
    cause ea is evil lolz and makes shit games.


    of course as long as you enjoy what i would consider the second best game of last year (skate)

    And they're working on Mirror's Edge.

    Khavall on
  • AngryAngry The glory I had witnessed was just a sleight of handRegistered User regular
    edited May 2008
    yes drez, i'm sure ea is willing to spend billions of dollars so that they can ruin t2. that's pretty logical.

    Angry on
  • DrezDrez Registered User regular
    edited May 2008
    Angry wrote: »
    yes drez, i'm sure ea is willing to spend billions of dollars so that they can ruin t2. that's pretty logical.

    Why not? Topple the competition like an oil tanker. Poison the globe, blacken the sea, then the sky, and Armageddon will be upon us. And who will take the reins when anarchy befalls Earth? Why, Electronic Arts will.

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • DrezDrez Registered User regular
    edited May 2008
    Then again, they did make the delightful Mail Order Monsters oh so many years ago so it all evens out in the end.

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • TheSonicRetardTheSonicRetard Registered User regular
    edited May 2008
    I don't think EA will ruin TakeTwo (they were already a pretty shitty company, IMO) but I don't like this consolidation of power.

    TheSonicRetard on
  • The Sneak!The Sneak! Registered User regular
    edited May 2008
    what we need is another 2d actraiser that re-adds the sim elements of the first one.

    The Sneak! on
  • DrezDrez Registered User regular
    edited May 2008
    Or Realms of Impossibility 2.

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • xzzyxzzy Registered User regular
    edited May 2008
    Anyone who thinks EA won't screw up T2's games clearly has a short memory.

    Those that ignore history, etc, etc.

    xzzy on
  • The_ScarabThe_Scarab Registered User regular
    edited May 2008
    Name one franchise that EA acquired which it ruined in the last, ooh, 10 years.

    The_Scarab on
  • LewiePLewieP Registered User regular
    edited May 2008
    I think this will be bad for the industry, but I doubt that in the short term the franchises T2 owns would suffer at all.

    The problems this would/will cause are an increase in the trend towards homogenisation and standardisation of the big budget games.

    LewieP on
    SavyGamer.co.uk / Twitter
  • TheSonicRetardTheSonicRetard Registered User regular
    edited May 2008
    The_Scarab wrote: »
    Name one franchise that EA acquired which it ruined in the last, ooh, 10 years.

    You're joking, right?

    TheSonicRetard on
  • xzzyxzzy Registered User regular
    edited May 2008
    The_Scarab wrote: »
    Name one franchise that EA acquired which it ruined in the last, ooh, 10 years.

    Warhammer ain't looking so swift, though I suppose it may not count as it's not released yet.

    I haven't been happy with what's been going on with the Burnout series either, though I admit that's a question of personal taste. I consider it "ruined" though. ;)

    xzzy on
  • RakaiRakai Registered User regular
    edited May 2008
    Westwood died because they tried to move the studio. Bullfrog died when the creators left to do their own thing years later.

    In Westwood's place we got Petroglyph. In Bullfrog's place we got Lionhead. Buying up a studio and killing it does not kill the competition.

    Rakai on
    [SIGPIC][/SIGPIC]XBL: Rakayn | PS3: Rakayn | Steam ID
  • DrezDrez Registered User regular
    edited May 2008
    Rakai wrote: »
    Westwood died because they tried to move the studio. Bullfrog died when the creators left to do their own thing years later.

    In Westwood's place we got Petroglyph. In Bullfrog's place we got Lionhead. Buying up a studio and killing it does not kill the competition.

    So if I buy you and kill you I'm not killing you?

    Drez on
    Switch: SW-7690-2320-9238Steam/PSN/Xbox: Drezdar
  • MorninglordMorninglord I'm tired of being Batman, so today I'll be Owl.Registered User regular
    edited May 2008
    TheSonicRetard wrote: »
    The_Scarab wrote: »
    TheSonicRetard wrote: »
    The_Scarab wrote: »
    You mean milk it any more than T2, which as I said has released a GTA game every year since GTA3 launched.

    GTA3 - 10/22/01
    GTA Vice City - 10/27/02
    GTA San Andreas - 10/26/04
    GTAIV - 4/29/08

    Every year my ass.

    You forgot Liberty City stories in 2005 and Vice City Stories in 2006..
    Those are GTA games.

    There's a big difference between a handheld rehash using all the same assets from GTA3 and GTAVice City and a new game.

    Or are we going to start claiming that we had a new zelda game every year since OoT?

    Hay dude....those rehashes are the kind of thing people* are afraid EA are going to do. Your argument strengthens his point.

    *idiots.

    Morninglord on
    (PSN: Morninglord) (Steam: Morninglord) (WiiU: Morninglord22) I like to record and toss up a lot of random gaming videos here.
  • HoukHouk Nipples The EchidnaRegistered User regular
    edited May 2008
    Rakai wrote: »
    Buying up a studio and killing it does not kill the competition.
    If that studio is your competition, it sorta does.

    Houk on
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