Take-Two today announced that they may be selling the company in light of a squabble between shareholders which centers around a move to push out the current board.

In a brief statement released today, the company said they have postponed their annual meeting scheduled for Friday, pushing it back to March 29, so they would have time to "review the proposed actions of the shareholder group and also to evaluate alternative courses of action."

Among the possibilities is the "possible sale of the company."

On March 7, shareholders with 46 percent of the company announced that they planned to overthrow the board and management due to five quarters of losses. Specifically, new CEO Paul Eibeler and CFO Karl Winters are in their sights, according to Bloomberg.

The group of dissidents include the OppenheimerFunds which owns 25 percent of the company.

Bloomberg, citing analysts, lists Electronic Arts as a potential buyer of the company.

This is the latest in a long line of fiscal, shareholder and stock problems that have plagued the company since 2005. Hit the jump for the wordy press release. Brian Crecente

New York, NY - March 19, 2007 - Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced today that the Company has postponed its annual meeting scheduled for March 23, 2007 until March 29, 2007. The meeting will be held at a time and location to be designated in a revised Notice of Meeting, to be issued later today. The current record date of February 26, 2007 for the annual meeting remains unchanged.

The Company also announced that, in light of the expressed intention of a shareholder group to act by written consent under certain circumstances, the Board of Directors has set a record date of the close of business on March 29, 2007 for the purpose of determining the shareholders entitled to act by written consent.

The purposes of the Board's actions are to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders, including a possible sale of the Company. An additional objective of the Board is that shareholders, including the shareholder group, not take any action that would preclude an evaluation of any alternative that the Company might develop and that could potentially be presented to shareholders. There is no assurance that any specific alternative proposal will be forthcoming.

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