Take-Two CEO Strauss Zelnick is digging in his heels over this whole potential EA buyout scandal. The Hollywood Reporter recently interviewed him and naturally the subject of EA’s buyout offer came up.
Zelnick was very unwilling to discuss the details of the trade, as is to be expected, but it’s pretty easy to see through this tactic in order to get his true feelings on the matter. He also discusses gaming industry consolidation,and once again its very easy to derive his opinions on that too.
From his comments below, it almost seems as if Zelnick would reject futher advances by EA simply on principle that it’s the best thing for the industry as a whole. I know that in general, gaming industry executives are a lot more laid back and concerned with the health of the entire industry, but this is a little over the top!
THR: Take-Two has been in the headlines with your rejecting a takeover offer from Electronic Arts. Are you open to a deal if they come back with a higher offer?
Zelnick: We are here for our shareholders. They made a (specific) proposal, we rejected it. Next!
THR: Many industry experts see value in gaming consolidation. Do you see value in a combination?
Zelnick: I think we can expect consolidation. I’d rather not speculate on the nature of value creation. It has a lot to do with the capabilities of individuals and the goals of employees. This is not just a math lesson, this is a creative enterprise. Does consolidation create better games for consumers? Does it create better careers for the creatives? Those questions are just as important. If all stakeholders aren’t taken care of, then none of the stakeholders will benefit. We’ve been at Take-Two only for 10 months and are really proud of the progress we’ve made. And we think this company has a really bright future as an independent company. In the absence of an opportunity that our shareholders value more than this approach, that’s our business model.
He isn’t all martyrdom and benevolence though, he mentions quite a few things about his shareholders and what is best for his shareholders. So it sounds to me that if Zelnick thinks he can make a lot of money for his stockholders, then he would sell the company.
