News
EA is Rockstar’s ‘white knight’, says Riccitiello
Tim Ingham Mar 19 2008, 10:08am
Comments (6)
Leading analysts question statement as publisher’s hostile bid for Take Two gathers pace
EA chief executive John Riccitiello has said that his employer can be Rockstar’s ‘white knight’ – suggesting that only a successful acquisition of Take Two can give the developer a secure future.
However, leading analysts have condemned the statement, with Janco Partners’ Mike Hickey telling GameDaily.biz:
“My belief is Rockstar would be perfectly happy if EA never put a bid in at all. White knight commentary is total bullsh*t, and disrespectful to both the developers at TTWO and the new management team that has already achieved success.”
Wedbush Morgan Securities' Michael Pachter added:
“‘White Knight' usually signifies rescue from a hostile suitor (the connotation is to a damsel in distress). I think Riccitiello's use of the term was incorrect, and perhaps a misplaced attempt to sound clever.
They are in no sense a White Knight.”
DFC Intelligence's president David Cole commented:
“The issue is really more about shareholder value and whether EA is a white knight for Take Two shareholders by offering to pay them the maximum value they feel they can get.”
Mr. Riccitiello told the New York Times that he had not spoken to the Rockstar team, but he said he could make a strong case to them that Electronic Arts offers them a stable parent.
“We, in many ways, represent a white knight.” he said.
The statement came in the same article in which the NYT revealed that short-term investors had rushed to Take Two in an attempt to push up EA’s hostile offer of $26 per share.
Comments
“Ahmen!”
Posted by: Hark - Mar 19, 11:01am
Finally! An analyst who actually knows what his on about! I hate all this money talks bull****! What ever happened to love of games? Did EA ever have that in the first place?
Plus MCV I love that pic you of Riccitiello....he looks like such a ****!
I apologise for my bad language, but it has to be done.
Hark
“Re: Ahmen!”
Posted by: Mr Chips - Mar 19, 11:05am
Yes I also like the photo of him clearly straining on the toilet!!
“Re: Ahmen!”
Posted by: lak2097 - Mar 19, 12:42pm
here here,
there is definitely something of the night about him in that shot. Very sinister indeed.
no pun intended.
“Utter tripe”
Posted by: Lee - Mar 19, 1:28pm
Bang on the money. There not in distress, so they dont need saving. EA, the money loving, game wrecking company that they are, want to take over for one reason.......GTA4. GTA4 will be the biggest game for years to come, its on both PS3 and xbox and will sell like no other. I wonder why EA want a piece of the action? Mmmmmm.......
“Re: Utter tripe”
Posted by: matty - Mar 19, 3:05pm
Yes, Mr. Riccitiello seems to be stroking a fluffy, white cat in that shot, shame you can't see it. I wish EA would leave R* well alone, they are doing just fine at the moment. EA should maybe focus on saving their own business, seeing their share price has been on a steady decline for the last 6 months...
@4 - Take Two (and the rest of the industry) are fully aware that EA are deliberately being hostile in trying to push the deal through before GTA4's launch, hence T2's statement that they wouldn't enter into any discussion until after April. We'll hopefully see what happens by then...
“Re: Utter tripe”
Posted by: Hark - Mar 19, 8:51pm
I think Riccitiello should be sacked...EAs management structure needs to be reshuffled! How dare EA openly just insult Take Two! Who the **** are they to judge? Just because they got shed loads of money.
Companies making comments like that shoudn't be welcomed in such a creative industry....if only gamers worldwide unite and boycott EA games!
That would be quite cool, if everyone stopped buying EA games.....Ill go now.
Hark