Variety Interviews Take-Two's Zelnick (XB360)

Variety today posted an interview with Take-Two Interactive's executive chairman Strauss Zelnick, focusing on the recent EA buyout proposal. He commented how he thought the proceedings with EA have been just "business" and added how he believes in his company's ability to appeal on a global level. Zelnick did not comment publicly on EA's attempt to buy Take-Two last year, nor did he comment on offers from other companies.

"The timing of this deal is wrong and the value remains insufficient..." said Zelnick to Variety. "The timing is out of our control now that it's in the public eye, but the fact remains that the value is woefully inadequate. Of course, as a public company one has an obligation to talk to legitimate interested parties at any time, but one the offer goes public, the tenor changes. We've seen what is on the table and we have already rejected it. There's not much else for us to do right now but listen to our shareholders and the market."

"I have said before that I see consolidation occurring," continued Zelnick. "There are two times when consolidation typically occurs: When an industry is growing rapidly or declining. We're growing and so I do believe we'll see continued consolidation. But we are a very strong company. This isn't about majors vs. independents. Take-Two is hardly a boutique firm."