Take-Two's Zelnick Passes on Newspaper Purchase

May 29, 2009 -

Take-Two Interactive Chairman Strauss Zelnick seems like a pretty smart guy, so we were surprised to learn that he was actually considering buying a newspaper. In the end, he wised up, however.

Reuters reports that Zelnick decided to pass on acquiring the Austin American-Statesman. The Texas paper had a daily circulation of 152,691 as of March.

Zelnick's private equity firm ZelnickMedia Corp. never made a formal bid and decided to pull out of negotiations as the sorry state of the newspaper business continued to worsen.


Comments

Re: Take-Two's Zelnick Passes on Newspaper Purchase

In before Thompson gloats that Straus doesn't know what he's doing.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

You don't invest in a failing company, I wish the people running "obamanomics" knows that.

"We invest in a sick and dying horse and we didin't win! Why did this happen?" 

Then

"Hey guys, I gotta tell you that we lost a bunch of money when we bet on that horse so we gotta charge you 10-25% on everything you buy to make up that money even though it's primarly my fault."

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Define "failing company". Is it one facing chapter 7 bankruptcy? One facing chapter 11 bankruptcy? One asking congress for help? One that's in need of a management change?

-Gray17

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Does it really matter? If their filing bankruptcy obviously something is wrong with the company. Chapter 7 is management but those companie's got there in the first place through their own failing. Take for example Midway whom spent so much money on original IP that sucked, same with Ford and GM. It should be "You shoulden't have relied on your trucks and SUV's too bad so sad, you should have diversified." or, "You shoulden't have given out loans to people you know they can't pay back, you failed sorry." The concept of bailing out a company is insane because they failed in some way shape or form, they should be replaced by a company that doesn't fail. Don't keep those who fail at their job and get people who can keep their jobs.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

same with Ford and GM

And yet oddly enough, Ford hasn't gotten a bailout, and isn't staring bankruptcy down the throat. Hence my asking what you're definition of what a failing company is.

-Gray17

Re: Take-Two's Zelnick Passes on Newspaper Purchase

The primary definition of capitalism, right there.  The problem is that liberals are trying to spread a message that if people do something wrong, it's always someone elses fault.  Therefore, nobody needs to be held responsible for their actions.

Also, just an FYI; it's GM and Chrysler that were bailed out.  It's looking like Ford will be able to weather the storm without taxpayer's money.

 

Freedom of speech means the freedom to say ANYTHING, so long as it is the truth. This does not exclude anything that might hurt someone's feelings.

--- With the first link, the chain is forged.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Imagine being the only paper on the continent that couldn't write stories about how GTA turns kids into cop killers.  That's your entire technology section gone.

---
The Mammon Philosophy

---
Fangamer

Re: Take-Two's Zelnick Passes on Newspaper Purchase

He's an intelligent man who made a sound business decision.  Good for you Strauss.

 
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MonteThough from a business side, i would agree with the article. While it would be smarter for developers to slow down, you can't expect EA, Activision or ubisoft to do something like that. Nintnedo's gotta get the third party back.02/28/2015 - 4:36pm
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MonteWith the Wii, nintnedo had the right idea. Hold back on shiny graphics and focus on the gameplay experience. Unfortunatly everyone else keeps pushing for newer graphics and it matters less and less each generation. I can barely notice the difference02/28/2015 - 4:29pm
MonteON third party developers; i kinda think they should slow down to nintendo's pace. They bemoan the rising costs of AAA gaming, but then constantly push for the best graphics which is makes up a lot of those costs. Be easier to afford if they held back02/28/2015 - 4:27pm
Matthew Wilsonhttp://www.forbes.com/sites/insertcoin/2015/02/28/the-world-is-nintendos-if-only-theyd-take-it/ I think this is a interesting op-ed, but yeah it kind of is stating the obvious.02/28/2015 - 2:52pm
prh99The government probably doesn't need an app, but I was think more along the lines of a company that was going to sell the collected info. “If you're not paying for the product, you are the product” sometimes even if you pay.02/28/2015 - 1:50pm
E. Zachary KnightWhat better way for the government to keep track of you than to get you to install an app that lets you insult the government.02/28/2015 - 11:03am
prh99No, but I looked it up and it's basically spyware. Their privacy policy says their apps tracks among other things your location and browsing habits via cookies.02/28/2015 - 8:20am
Ryan RardinHas anyone here heard of an app called iCitizen? It's basically Yelp for politicians.02/28/2015 - 5:16am
Andrew EisenAh, not linked in the way you (and everyone else) want and expect. That's true.02/27/2015 - 10:06pm
Matthew Wilsonthey are not linked in a way that tracks purchases though. the fact that they have to send a code for the other system shows that they are not linked in the way it counts.02/27/2015 - 9:39pm
 

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