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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MechaTama31Heh. I don't think you need a master's in politics to see that... ;)09/30/2014 - 7:32am
Matthew WilsonTrust me i read the same sites.I have a Master's in Applied Politics. I get to see through the spin both Left and Right that tend to be put on news stories.09/30/2014 - 1:02am
WymorenceI also have an extremely hard time in listening to people who froth at the mouth when the POTUS does something almost identical to the previous POTUS, but for some reason is subhuman for it this time around09/30/2014 - 12:43am
WymorenceThe problem is that opposing views are a good thing, but sites like Brietbart and their ilk are the exact opposite. 9/10 times they tweak the news to benefit their own views instead of just giving their own side of it.09/30/2014 - 12:41am
james_fudgeIf I were in a cult I might try and shut myself away from opposing views...09/29/2014 - 11:48pm
james_fudgeoh and Nate Silver and Politico too.09/29/2014 - 11:48pm
james_fudgeI read a lot of sites every day, Drudge, Breitbart, Huffpo, DailKOS, Red State, Fox, MSNBC, CNN and i'm not infected. Time for people to get thicker skins.09/29/2014 - 11:46pm
james_fudgeNeo_DrKefka: you do know you visited "one of those sites" when you posted that article, right?09/29/2014 - 11:44pm
E. Zachary KnightOcarina of Time done up in the Link to the Past engine? You know I would buy this day one if it were official. http://kotaku.com/fans-are-remaking-ocarina-of-time-in-2d-164059481909/29/2014 - 11:14pm
MaskedPixelantehttps://twitter.com/raymond03155046/status/516735796754522113 "We're fundraising for the group who helped our pets out in their time of need." "lol ur just doing this for the money get over your cat."09/29/2014 - 9:26pm
MechaTama31https://www.humblebundle.com/store/p/dontmove_storefront <-- This looks like it might be the most incredible dollar I'll ever spend.09/29/2014 - 9:12pm
Matthew WilsonI agree. the same for MSNBC as well. both of them can go away, but like it or not its a free market and fox news make allot of money sadly.09/29/2014 - 7:46pm
quiknkoldI'm an independent voter. Vote Blue and Red. so I dont really visit any specific news sites(Though I know FoxNews can take a flying leap off a bridge)09/29/2014 - 7:02pm
quiknkoldFactcheck.org. there you go. neither left or right. straight down the center.09/29/2014 - 7:01pm
Craig R.When a website's tinfoil isn't enough, add your own!09/29/2014 - 6:32pm
Andrew EisenWe used to have a reader who constantly posted DailyKOS articles in the Shout box. I was amazed, not so much by the amazing and horrifically disingenuous spin the site put on these articles, but that our reader would add his own spin on top of it!09/29/2014 - 6:05pm
E. Zachary KnightYou do realize that DailyKOS is the Brietbart of the left wing agenda, right?09/29/2014 - 6:01pm
quiknkoldproblem with Breibart is, despite I totally agreeing with Nero's articles.....its freaking Breibart. Its not the best place int he world when it comes to trust. if DailyKos or think progress reported it....well...things would be better. but here we are.09/29/2014 - 6:00pm
Neo_DrKefkaAt this point I need to stop visiting certain sites. At least now I have a list of people and where they work where I need to avoid http://www.breitbart.com/Breitbart-London/2014/09/21/GameJournoPros-we-reveal-every-journalist-on-the-list09/29/2014 - 5:56pm
E. Zachary KnightNeo, Where in any published accounts of the games journo pro mailing list do they call anyone "misogynists, racist, sexist and that we are horrible people"?09/29/2014 - 5:47pm
 

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