Congratulations, Take-Two. You win second place on the list of 10 worst media deals of 2008. Spurning Electronic Arts’ offer to buy you got the attention of some list-making investors, who hailed your decision.
Oh, they hailed it as a massively missed opportunity, considering EA offered to buy your stock at a premium of $25.75 per share, which is now hovering around $8. Not that EA’s stock is doing much better, currently rebounding at $17, but you get the idea.
The UBS Global Media & Communications Conference in New York, in case you happened to miss the liveblogging of it (somewhere) — we don’t know how you could have missed the original mega-corporate soap opera — also gives CBS, Time Warner and, most of all, Yahoo! the “what for” for their financial decisions last year. Good times!
http://kotaku.com/380119/ea-versus-take+two-how-the-takeover-works
UBS unveils worst media deals of ’08 [Variety]
