Sony buying take two

The internet is going crazy today over rumours that Sony is buying Take-Two and the studios that reside within it, including Rockstar Games, Firaxis, Hangar 13 and more.“Take-Two Interactive Software stock climbed 4.7% on rumors that Sony Corp. ‘is in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,’ that would value the company at $130 share, according to Joel Kulina, head of technology and media trading at Wedbush Securities,” a report from Market Watch originally read.GamesIndustry.biz has since spoken to Kulina, who has distanced himself from the comment attributed to him.“This is purely unconfirmed market speculation that is making the rounds,” Kulina said. “I am not the source of this story in any regard. And not sure who quoted me as I didn’t speak with anyone over the phone (unless someone saw a trading note that I wrote).”Bizarrely, the duo who wrote Market Watch’s original report have distanced themselves from it as well, confirming that Kulina’s comment was the only source they’d heard the rumour from.“The stock shot up at the start of trade today to lead the S&P 500 and I was simply looking for plausible explanations,” Matthews told GamesIndustry. “Joel’s in a good position to know what’s moving individual tech stocks, even if they are just rumors. In terms of timing, [Take-Two] stock was well up before his email went out, so it was not his dissemination of the rumor that sparked the move.”We’ll highly doubtful that Sony’s in the process of buying Take-Two, but we’ll keep you informed as we learn more. Sony has declined to comment on the rumour This article may contain affiliate links, meaning we could earn a small commission if you click-through and make a purchase. Stevivor is an independent outlet and our journalism is in no way influenced by any advertiser or commercial initiative.

News PlayStation PS4 PS5 SonyThe games industry has been one that’s always been growing for years, though since the pandemic its safe to say that it’s been booming these last three.It’s currently the largest entertainment industry, and while we think we’ve seen big acquisitions lately with Microsoft buying Activision Blizzard or Sony buying Bungie, things are only expected to go up from here.That’s at least the opinion of Michael Metzger, a partner at investment bank Drake Star, which mainly deals in investing in tech mergers and acquisitionsA report from Axios points out that Drake Star has been tracking acquisitions and mergers being on the rise in recent months, and according to Metzger, “based on our discussions with many of the top gaming companies in the last weeks, we expect the deal volume to increase steadily over the next year.”Who can say what exactly these mergers and acquisitions will be, but Metzger points to Sony, Take-Two, Tencent and Savvy Games as the ones who will be making most of these big moves.In one sense, it’s potentially an exciting future, as these larger publishers could enable smaller teams to deliver projects they wouldn’t have been able to do on their own.On the other hand, consolidation leads more often to less variety, and greater risk that whenever the parent company decides times are rough, and layoffs are needed, that now has an even greater ripple effect.Just like what we’ve been seeing this year, with layoffs and studio closures across the industry.Source – [Axios]

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