Viacom, Take-Two: no comments on acquisition rumor

Heads up! We got the latest news regarding the rumor spreading that Viacom‘s out to buy Take-Two Interactive. Apparently the media conglomerate is has not talked with the game developer about this so-called purchase.

Both companies have offered “no comment” regarding this matter. More information on this event in the full article.

Although there’s information circulating that game developer Take-Two Interactive will be acquired by media conglomerate Viacom, it seems unlikely that an acquisition will happen.

Speculations arose when Viacom invested in the gaming industry. MTV, a property of Viacom, had purchased Harmonix, developer of Guitar Hero, with US$ 175 million. The result of this was the hit game Rock Band (Xbox 360, PS3, PS2).

Even with this event, Viacom Chief Executive Philippe Dauman has already said on several occasions that they have no reasons to be in a high-priced acquisition. They actually prefer smaller purchases and/or development of their products and services internally.

Apparently, Pacific Crest Securities analyst Evan Wilson thinks otherwise. In reference to the company’s condition, Wilson said, “This is very unlikely.” Furthermore, Wilson added that, “Video games are a hot space and media companies are interested in participating in the growth, but for Viacom, they are pursuing a completely separate strategy.”

As for the Viacom’s word on this rumor, they offered no comment. The same goes for Take-Two Interactive as well, as a company representative said that they don’t comment on rumors.

There you have it, the latest update currently circulating the world wide web. keep your eyes glued to our site as we will be bringing you with more updates regarding this matter.

Via Reuters