Take-Two has renewed its deal with Rockstar, ending speculation that the Houser brothers may emancipate from their parent company.
The new deal is valid until January 31st, 2012, and is primarily based on a ‘profit sharing arrangement’, also encompassing long-term employment agreements with Sam Houser, Dan Houser, Rockstar North’s Leslie Benzies and several other ‘key members of the creative team behind the renowned Grand Theft Auto series’.
Take-Two will also be funding the development of new IP, which will be owned by a newly-formed company controlled by key Rockstar members, with publishing rights exclusively granted to Take-Two.
"The entire Rockstar team has always been dedicated to making groundbreaking games with unprecedented production values, style and depth,” said Sam Houser, founder and executive producer of Rockstar Games.
“We are excited to continue our partnership with the new management team at Take-Two, who have helped us to protect the unique atmosphere that fosters creativity and innovation."
Strauss Zelnick, chairman of Take-Two, added: "We're delighted with the extension and expansion of Take-Two's relationship with the Rockstar team. The talent and creativity at Rockstar are unparalleled in our industry.
“Their dedication to making extraordinary games has captured the enthusiasm of millions of fans around the world and has contributed enormously to establishing Take-Two as a force in the global video game marketplace and advancing our goal to become the most creative and most innovative company in the industry. In addition, this new chapter in our successful relationship further aligns the interests of our creative teams with those of our shareholders."