Take-Two Shares Plummet 44
On news that Rockstar was being sued by the city of L.A., the aftermath of Hot Coffee, and the 'unhealthy relationship the board of directors has with its management' Take-Two Entertainment's shares dropped sharply on Friday. From the article: "Cooper said in a note that the company is burning cash at an 'alarming' rate and that he expects 'more title delays, a possible SEC investigation and key employee departures.' This comes immediately after the news that Audit Committee Chairwoman Barbara Kaczynski resigned from the board on January 19, because she felt that management had failed to keep the board informed of key issues."
Office fire (Score:4, Interesting)
Or maybe the stock price had something to do with the office fire...
And was I the only one that was surprised that Hot Coffee didn't result in a huge sales boom?
Did GTA Liberty CIty Stories.. (Score:4, Interesting)
I wonder if they were banking having Liberty City Stories being their next cash cow(like GTA3 on up did), but fell way short of expectations.
It's understandable. They latched onto a next-gen portable(PSP) thinking it would sell like hotcakes, but it didn't. Not so much the fault of the game itself, but moreso the PSP itself not doing so well.
If I were them, I would have hired the multi-theft-auto developers full-time and make some sort of MMORPG stat to milk out the last of the GTA franchise. A multi player GTA would be more fun than LCS.