Earlier today, the video gaming world was shook to its core as a report surfaced that suggested that Sony was “in advanced board level discussions” in a bid to acquire the massive publisher Take-Two Interactive. Initially reported by the website MarketWatch, a note from Joel Kulina, the head of technology and media trading at Wedbush Securities, suggested a jump in Take-Two Interactive’s stock was attributed to the discussions between the two companies. Kulina’s note stated:
Take-Two Interactive Software stock climbed 4.7% on rumors that Sony Corp. ‘is in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,’ that would value the company at $130 share.
Since the initial report, the publisher’s stock jumped up an additional 2.2% to 6.9%. However, it has come to light that the jump may not be due to Sony. After the news broke, Gamesindustry.biz was able to speak with Kulina, and Kulina stated to the website that his note was ” purely unconfirmed market speculation that is making the rounds.” The website then confirmed with the writers of the MarketWatch report that they had only heard of the discussions between the companies from Kulina’s note citing they were “simply looking for plausible explanations” for Take-Two Interactive’s stock jump.
Take-Two Interactive has since released a statement stating that they do not comment on rumors and speculation. Sony, meanwhile, has yet to comment on the reports. While it is currently unknown if Sony is actually in talks to acquire Take-Two Interactive, a move like this could change the entire landscape of the video game industry. If it were to happen, Sony would take ownership of acclaimed studios like Rockstar and 2k Sports. It would also give Sony the rights to massive IPs such as the Grand Theft Auto, Red Dead Redemption, Bioshock, and NBA 2k franchises.
A move to acquire Take-Two Interactive could be seen as a way for Sony to combat Microsoft, who spent 2018 on a studio acquisition spree. Sony is currently in the midst of being silent on their inner workings after foregoing hosting PlayStation Experience last year, and plans to skip E3 this year. Reportedly, they have shifted the focus of their first party studios to PlayStation 5 development. Take-Two Interactive, on the other hand, is coming off fantastic fiscal third quarter that ended 2018. It will be interesting to see if this massive deal actually comes to fruition or not.
In an update to the story, a spokesperson from Sony has stated, “We do not know where the rumor is coming from, but there is no such plan.”