indiegames
December 22nd, 2009, 00:50
http://cache.gawker.com/assets/images/kotaku/2009/12/jack_of_all_games.jpgWhat would make Grand Theft Auto publisher Take-Two Interactive (http://kotaku.com/tag/taketwointeractive/) revise its yearly earnings downward by an impressive $290 million for the year? The selling of its distribution business, Jack of All Games (http://kotaku.com/tag/jackofallgames/).
The company announced today, just a few days after its quarterly earnings report, that it was selling off its distribution company to SYNNEX for $43.25 million, putting all of its eggs into the publishing business basket going forward. Take-Two expects more than a quarter billion drop in estimated revenues for the year, a $120 million drop in the first quarter alone.
That's a big drop. So, why would Take-Two do such a thing?
Publisher CEO Ben Feder says the sale "is consistent with our stated intention to focus our resources on our core business strategy - delivering globally the most innovative and creative interactive entertainment products."
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The company announced today, just a few days after its quarterly earnings report, that it was selling off its distribution company to SYNNEX for $43.25 million, putting all of its eggs into the publishing business basket going forward. Take-Two expects more than a quarter billion drop in estimated revenues for the year, a $120 million drop in the first quarter alone.
That's a big drop. So, why would Take-Two do such a thing?
Publisher CEO Ben Feder says the sale "is consistent with our stated intention to focus our resources on our core business strategy - delivering globally the most innovative and creative interactive entertainment products."
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