Take-Two Interactive Software, known best for its “Grand Theft Auto” video games, has hinted that the company may be up for sale. The company announced Monday that it may sell itself after activist shareholders announced plans to seize control of the company.
Shares of the company have been up over 10% since this announcement. Shareholders with 46% of the company, have said that they plan to install their own directors and management in order to cut costs, thereby increasing profits. Take-Two has had five quarters of losses while failing to release titles to match the popularity “Grand Theft Auto”.
Interestingly, some companies mentioned as possible buyers are competitors Electronic Arts, Ubisoft, Activision, and News Corp.
