Posted on February 7, 2008, Shawn Sines Viacom Not in Talks to Buy Take-Two
Despite rumors to the contrary a knowledgeable source claims Viacom is not in talks to buy Take-Two interactive. After reports on the web said Viacom had offered $1.5 billion for Take-Two, parent company of GTA developer Rockstar, saw a 12% rise in shares.
When asked about the the deal Viacom declined to comment, and a Take-Two representative said the company was disinclined to respond to rumors.
“This is very unlikely,” Pacific Crest Securities analyst Evan Wilson said of the speculation. “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.”