“Notwithstanding Take-Two’s posturing, we do not expect EA to be impressed with the presentation, which will include a 3-year release schedule and a list of cost control initiatives. We think that most of Take-Two’s forward game schedule is fairly evident (EA should not be particularly surprised to learn that GTA 5 and BioShock 2 are planned), and think that its cost control initiatives, while impressive, will not sway EA to offer more, given the latter company’s apparent intention to eliminate all Take-Two overhead anyway. However, we believe that accepting a presentation by Take-Two will allow the company’s management to save face, and allow them to remain relevant in the negotiations.” – Wedbush Morgan (Super) analyst, Michael Pachter

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