MCV/DEVELOP News, events, research and jobs from the games industry

Take Two’s pre-market stock valuation enjoyed a huge 46.9 per cent increase this morning, following news of EA’s bid for the firm . Shares of Take Two rose to $25.50, up from Friday’s Nasdaq close of $17.36. MCV broke the news of EA’s bid yesterday, which totalled $1.9 billion. Optimism …

As part of its freshly announced intentions to snap up Rockstar (and thus Grand Theft Auto) owner Take 2, EA has launched a new website dedicated exclusively to the news. The main text of the open letter from EA CEO John Riccitillo can be found here. Elsewhere on the site, …

Following Toshiba’s decision to cease development and production of HD-DVD equipment, Microsoft has now confirmed that manufacturing of its HD-DVD add-on for Xbox 360 is also to end. A statement from the firm read: ”As a result of recent decisions made by Toshiba, Hollywood studios, and retailers, Microsoft plans to …

The Australian Government says it is considering introducing an R rating for video games, which would allow the sale of more explicit titles in the country, according to ABC news. Debate has been ongoing that an 18 or R rating should exist for more adult software, which was reignited following …

We’ve issued a press release that explains why the deal is attractive for the shareholders of both Take Two and EA. Now I want to share some perspective on why it would be good for the people who make Take Two’s games and, just as important, the people who play …

Take-Two decided EA’s $2bn offer was "Not in the best interests of its stockholders” and rejected the bid. We believe EA’s unsolicited offer is highly opportunistic and is attempting to take advantage of our upcoming release of Grand Theft Auto IV, one of the most valuable and durable franchises in …

President of Sony Computer Entertainment Worldwide Studios Phil Harrison will resign as of February 29, 2008. Kazuo Hirai, President and Group CEO of SCEI, will immediately assume responsibilities as president of SCE WWS, in addition to his current duties. As one of the founding members of SCE, Phil played a …

Electronic Arts has made public an offer to acquire rival publisher Take Two for around $2bn, revealing that the two have been in talks to merge, although the GTA publisher has so far spurned EA’s advances. The all cash merger has been proposed by EA CEO John Riccitiello at $26 …

Following on from the news that EA would like to buy Take Two, we’re publishing in full the letter from Electronic Arts CEO John Riccitiello to Take Two exec chairman Strauss Zelnick outlining why the merger would be beneficial to all: February 19, 2008 Mr. Strauss ZelnickExecutive Chairman of the …

Comprehensive listing of all the news and announcements here on developmag.com