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

-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

-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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Andrew EisenWell this is unique! A musical critique of the Factual Feminist's "Are Video Games Sexist?" video. https://www.youtube.com/watch?v=-K4s7cV4Us409/20/2014 - 2:41am
Andrew EisenSome locked threads. Some let them be. So, no, I'm not seeing a problem here. No corruption. No collusion. No ethical problem with privately discussing ethics.09/20/2014 - 12:48am
Andrew EisenAnd still, in the end, Tito made up his own mind on how to handle his site. All 150 or so members went off to handle their own sites in their own ways. Some talked about it. Some didn't. Some changed disclosure policies. Some didn't.09/20/2014 - 12:40am
Andrew EisenThere were two comments other than Kochera and Tito's. One pointed out the Escapist Code of Conduct, another comment was in support of Tito.09/20/2014 - 12:40am
Andrew EisenKochera privately expressed his disagreement on how Tito decided to do something. No, I don't consider that crossing a line nor do I consider the exchange an example of the group pressuring him.09/20/2014 - 12:36am
Kronotechnical reasons. Anyways, I need to get to sleep as well.09/20/2014 - 12:29am
KronoAnd he wasn't the only one pushing Tito to censor the thread. If Tito had bowed to peer pressure, we likely wouldn't have gotten this http://goo.gl/vKiYtR which grew out of that thread. Said thread also lasted until a new one needed to be made for09/20/2014 - 12:28am
Krono@Andrew So it's an example of Kuchera crossing the line from reporter to advocate. And an example of the group pressuring for censorship.09/20/2014 - 12:21am
E. Zachary KnightAnyway, I am off to bed. I will probably wake up to all of this being knocked off the shout box.09/20/2014 - 12:20am
E. Zachary KnightKrono, that is the type of reading too much into things that bugs me. Ben did no such thing. Greg had the last word in that part of the exchange. The rest was about how to approach the story and Quinn.09/20/2014 - 12:19am
Andrew EisenSo?09/20/2014 - 12:13am
KronoExcept that the forum thread wasn't harassment, and Kuchera continued to push for the thread's removal after Tito made it clear he didn't consider it harassment.09/20/2014 - 12:12am
Andrew EisenPersonally, I see nothing wrong with someone offering their opinion or the other person making up their own mind on how to run their site.09/20/2014 - 12:06am
E. Zachary KnightKrono, I read nothing of the sort in that email chain. I read Ben giving advice on what to do when a forum thread is used to harass someone and spread falshoods about them and others.09/20/2014 - 12:05am
KronoThat's exactly what Ben Kuchera was doing to Greg Tito.09/19/2014 - 11:58pm
Krono@EZK So you see nothing wrong with one journalist pressuring a journalist from a different organization to not only not run a story, but to censor a civil discussion already taking place?09/19/2014 - 11:56pm
E. Zachary KnightI write for a number of blogs and talk to people who write similar blogs all the time for tips and advice. I see nothing wrong with that.09/19/2014 - 11:50pm
E. Zachary KnightI read that comment now and frankly, I think that guy is reading too much into this. The press talk to each other. It happens. There is nothing that can be done to stop it from happening.09/19/2014 - 11:49pm
KronoUnfortunately it seems unlikely to be resolved anytime soon.09/19/2014 - 11:45pm
Krono@EZK No that's not the comment. As for wanting nothing do with any of it, that's perfectly understandable.09/19/2014 - 11:44pm
 

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