Research analysts Jason Kraft and Chris Kwak have determined an answer to the question, "What's Grand Theft Auto worth?" Parent-company Take-Two has been rocked by some troubles of late. With rumors that the company is for sale, and that Elevation Partners is browsing around, the question has been on a lot of minds lately--ours included.

First, they anticipate only two next-gen GTA games hitting the consoles in the next five years, versus the three current-gen titles. In the same period, they say "there is potential for up to six PSP titles (five, post Liberty City Stories) over the next five years," continuing, "Take-Two could develop unique PSP games between major next-gen console releases or ports of existing titles. Shorter development cycles on PSP enable Take-Two to release PSP titles more frequently. The regularity with which Take-Two releases GTA titles on PSP will be critical to the franchise’s revenue growth in the next-gen cycle and underlies our revenue growth forecast."

They also suspect console releases will either be released on multiple platforms, to capitalize on the larger install-base, or console exclusivity would place Take-Two "in a position to demand cash in return... in either scenario, Take-Two wins." They conclude that the Grand Theft Auto franchise is currently worth about $900 million, or $10-$13 per share. Removing the $1.52 per share of cash reserves, the remainder of Take-Two is worth $1.71-$4.71 per share. Those numbers show GTA as being worth 62%-81% of the company's total value! Will potential buyers be wary of placing all their eggs in the GTA basket?

Research analysts Jason Kraft and Chris Kwak have determined an answer to the question, "What's Grand Theft Auto worth?" Parent-company Take-Two has been rocked by some troubles of late. With rumors that the company is for sale, and that Elevation Partners is browsing around, the question has been on a lot of minds lately--ours included.

First, they anticipate only two next-gen GTA games hitting the consoles in the next five years, versus the three current-gen titles. In the same period, they say "there is potential for up to six PSP titles (five, post Liberty City Stories) over the next five years," continuing, "Take-Two could develop unique PSP games between major next-gen console releases or ports of existing titles. Shorter development cycles on PSP enable Take-Two to release PSP titles more frequently. The regularity with which Take-Two releases GTA titles on PSP will be critical to the franchise’s revenue growth in the next-gen cycle and underlies our revenue growth forecast."

They also suspect console releases will either be released on multiple platforms, to capitalize on the larger install-base, or console exclusivity would place Take-Two "in a position to demand cash in return... in either scenario, Take-Two wins." They conclude that the Grand Theft Auto franchise is currently worth about $900 million, or $10-$13 per share. Removing the $1.52 per share of cash reserves, the remainder of Take-Two is worth $1.71-$4.71 per share. Those numbers show GTA as being worth 62%-81% of the company's total value! Will potential buyers be wary of placing all their eggs in the GTA basket?

From the Korean game maker Pentavision comes a special PSP™ version of the web-based and mobile music mixing game DJ Max. The game resembles Konami's popular beatmania series: You take the position as DJ and are challenged to hit the correct button(s) on your PSP™ handheld at the right time to complete the song.

As expected from a music game, most parts are completely in English and make DJ Max easy to understand and to pick up for persons without any Korean knowledge. With more than 50 tracks to choose from (including K-Pop, Techno, Breakbeat, Hip Hop, Rock and other popular genres), every music game fan will find a tune of his taste. Lyrics of all songs are included in the game's manual as bonus.

Prior song selection, you will have several options available, such as speed & fader adjustment, mirror mode selection and more. After completion of a song, you will receive a summary of your performance, including a combo & break counter, rating and score.

Your achievements are saved into a Ranking Chart. Additionally, you can unlock new tracks and items in the Gallery Mode.

Depending on the difficulty level, DJ Max can be played in either 4 button (left, up, triangle, circle) or 6 button mode (left, up, right, square, triangle, circle). You can further manually increase the speed with the L/R buttons.

DJ Max contains a number of game modes and extras as listed up below. Be warned that rookies might have their difficulties in the beginning; DJ Max's difficulty level is adjusted to experienced gamers.

From the Korean game maker Pentavision comes a special PSP™ version of the web-based and mobile music mixing game DJ Max. The game resembles Konami's popular beatmania series: You take the position as DJ and are challenged to hit the correct button(s) on your PSP™ handheld at the right time to complete the song.

As expected from a music game, most parts are completely in English and make DJ Max easy to understand and to pick up for persons without any Korean knowledge. With more than 50 tracks to choose from (including K-Pop, Techno, Breakbeat, Hip Hop, Rock and other popular genres), every music game fan will find a tune of his taste. Lyrics of all songs are included in the game's manual as bonus.

Prior song selection, you will have several options available, such as speed & fader adjustment, mirror mode selection and more. After completion of a song, you will receive a summary of your performance, including a combo & break counter, rating and score.

Your achievements are saved into a Ranking Chart. Additionally, you can unlock new tracks and items in the Gallery Mode.

Depending on the difficulty level, DJ Max can be played in either 4 button (left, up, triangle, circle) or 6 button mode (left, up, right, square, triangle, circle). You can further manually increase the speed with the L/R buttons.

DJ Max contains a number of game modes and extras as listed up below. Be warned that rookies might have their difficulties in the beginning; DJ Max's difficulty level is adjusted to experienced gamers.

From the Korean game maker Pentavision comes a special PSP™ version of the web-based and mobile music mixing game DJ Max. The game resembles Konami's popular beatmania series: You take the position as DJ and are challenged to hit the correct button(s) on your PSP™ handheld at the right time to complete the song.

As expected from a music game, most parts are completely in English and make DJ Max easy to understand and to pick up for persons without any Korean knowledge. With more than 50 tracks to choose from (including K-Pop, Techno, Breakbeat, Hip Hop, Rock and other popular genres), every music game fan will find a tune of his taste. Lyrics of all songs are included in the game's manual as bonus.

Prior song selection, you will have several options available, such as speed & fader adjustment, mirror mode selection and more. After completion of a song, you will receive a summary of your performance, including a combo & break counter, rating and score.

Your achievements are saved into a Ranking Chart. Additionally, you can unlock new tracks and items in the Gallery Mode.

Depending on the difficulty level, DJ Max can be played in either 4 button (left, up, triangle, circle) or 6 button mode (left, up, right, square, triangle, circle). You can further manually increase the speed with the L/R buttons.

DJ Max contains a number of game modes and extras as listed up below. Be warned that rookies might have their difficulties in the beginning; DJ Max's difficulty level is adjusted to experienced gamers.