Take-Two Interactive Software, Inc., announces the final resolution
to the media-caffeinated Hot Coffee affair. With Table Tennis
garnering grand reviews (as Rockstar tends to do consistently) it seems like we can all get back to the business of gaming. Waiter! Check, please.
Take-Two Interactive Software, Inc. Announces Final Resolution of the Federal Trade Commission Inquiry
New York, NY – July 21, 2006 – Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced today that following the 30-day period for public comment, the Federal Trade Commission (FTC) has unanimously approved the Consent Order and Agreement with Take-Two and its wholly-owned publishing label Rockstar Games. All outstanding matters pending before the FTC have been settled and no penalties or fines have been assessed. Among other things, the Consent Order provides that the Company shall not misrepresent a video game's ratings or content descriptors and that the Company shall implement a system to ensure that all game content is reviewed in connection with submissions to ratings authorities.
Paul Eibeler, President and Chief Executive Officer, stated, "We are extremely pleased that the FTC has concluded its very thorough investigation, and that the matter has been resolved. We recognize the importance of maintaining public confidence in the Entertainment Software Rating Board (ESRB) rating system and helping the ESRB educate parents and consumers about the rating system. We look forward to putting this behind us and focusing on what we do best - creating video games."