Sony Stock Prices Increase Amid Rumor
Rumors abound—and so far they should be treated as nothing more than rumors—that Sony is in board-level discussions to acquire Take-Two. Take-Two, as industry vets are aware, is the parent company of Rockstar Games and other developers. As such, the acquisition would represent a huge leap for Sony.
News of the discussion tethers back to Marketwatch, according to whom Sony’s stocks have risen. Apparently, executives somewhere mentioned the idea of buying Take-Two interactive – The mere rumor led to a 4.7% increase in the company’s stock value. Needless to say, if the PlayStation company suddenly bolstered their first-party studios with Rockstar Games, its value would increase significantly.
“Take-Two Interactive Software TTWO, +5.25% stock climbed 4.7% on rumors that Sony Corp. SNE, +0.80% ‘is in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,’ that would value the company at $130 share, according to Joel Kulina, head of technology and media trading at Wedbush Securities.”
Sony is something of a financial juggernaut, but Take-Two already sits on a sturdy video game pipeline. Currently, the publisher is raking in money from Grand Theft Auto V, Red Dead Redemption 2, and the NBA 2K series. They’re poised to continue as a leading publisher with or without Sony’s bank, which is why the acquisition may never move beyond discussion. Similar rumors have risen in the past, whether it was of Apple’s intent to buy Nintendo or Microsoft’s to buy Valve Corp. With all that said, never say never. What are your thoughts?
Do you believe there’s a chance Sony Interactive Entertainment will buy Take-Two? Let us know in the comments below.