As the next generation looms on the horizon, Sony and Microsoft are both doing everything they can to prepare for a strong launch and emerge as the early leader. Microsoft has been buying up small and medium-sized studios left and right, but Sony just might be going for the win all in one move. According to the latest rumblings from industry analysts, Sony is trying to buy out Take-Two Interactive.
Take-Two Interactive's stock is currently up over 5%, and according to investment firm Wedbush Securities, this is due to Sony being in "advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal." If true, this would be an absolute bombshell. As the parent company of both 2K Games and Rockstar Games, Take-Two holds some of the most popular video game properties in the world, including Borderlands, Civilization, Grand Theft Auto, and Red Dead, as well as a variety of sports games.
Update: Speaking with Games Industry, Joel Kulina of Wedbush Securities distanced himself from the story, stating that he's not sure who quoted him as saying that. He speculated that someone acquired a trading note he wrote and asserted that he did not give any phone interviews on the subject. Kulina has no solid source on the matter, and says it's "purely unconfirmed market speculation."
It's unclear who originally started this rumor, but the surge in share prices for Take-Two began before Kulina's note was published, so his note is not responsible for the increase. This "market chatter" may be a contributing factor in the stock surge (as is the upcoming reveal of Borderlands 3), but is there any truth behind it, or is it just wild speculation that managed to take off? Take-Two Interactive has declined to comment.
Source: Market Watch