Take-Two CEO Strauss Zelnick ruled out a sale of the company, stating the publisher does not need acquisition to remain competitive. This comes after Electronic Arts went private in a $55 billion deal led by Saudi Arabia's Public Investment Fund.
Zelnick told David Rubenstein that Take-Two's financial position allows it to succeed independently. The company projects $8 billion to $8.2 billion in annual revenue this fiscal year, well above the $1 billion threshold he said matters for survival in game development and distribution.
"We are not in a place where we need to be part of a bigger organization to be competitive. And in the entertainment business, scale matters," Zelnick said. He added that additional scale beyond $1 billion in revenue "doesn't seem to help you succeed."
Take-Two's market cap exceeds $42 billion. The company previously rejected a buyout attempt from EA in 2008, and a 2019 rumor of Sony interest was never confirmed as a formal bid.
GTA 6 launches November 19 for PlayStation 5 and Xbox Series X|S. Zelnick has indicated new GTA releases could arrive faster going forward.