Take-Two Interactive announced today that they have created the new development studio, 2K Marin
under the 2K Publishing label. Nothing concrete was announced for the studio, other than it will be located in Novato, CA and developed original material as well as assist other 2K Studios. See the release after the jump for complete details:
Take-Two Interactive Software, Inc. Announces Formation of 2K Marin
New Northern California based development studio to focus on creating original, industry-leading intellectual property
New York, NY - December 17, 2007 - Take-Two Interactive Software, Inc. (NASDAQ: TTWO) today announced the formation of 2K Marin, a new development studio under its 2K publishing label. Located in Novato, California, 2K Marin will develop original intellectual property, as well as co-develop products with other 2K studios around the world. "We're focused on continuing to bring new brands and cutting-edge gameplay to market with the creation of the 2K Marin studio," said Christoph Hartmann, President of 2K. "2K Marin will build upon our success in creating and leveraging AAA franchises."
2K Marin is the newest studio to join 2K's outstanding group of development studios located in Asia, Europe, Australia and North America.
For more information, visit the 2K Games website at www.2kgames.com.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a global developer, marketer, distributor and publisher of interactive entertainment software games for the PC, PLAYSTATION®3 and PlayStation®2 computer entertainment systems, PSP® (PlayStation®Portable) system, Xbox 360® and Xbox® video game and entertainment systems from Microsoft, Wii™, Nintendo GameCube™, Nintendo DS™ and Game Boy® Advance. The Company publishes and develops products through its wholly owned labels Rockstar Games, 2K Games, 2K Sports and 2K Play; and distributes software, hardware and accessories in North America through its Jack of All Games subsidiary. Take-Two's common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at www.take2games.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements based on a variety of factors. These risks and uncertainties include the matters relating to the Special Committee's investigation of the Company's stock option grants and the restatement of our consolidated financial statements. The investigation and conclusions of the Special Committee may result in claims and proceedings relating to such matters, including previously disclosed shareholder and derivative litigation and actions by the Securities and Exchange Commission and/or other governmental agencies and negative tax or other implications for the Company resulting from any accounting adjustments or other factors. Other important factors are described in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2006, and in the Company's Form 10-Q for the third quarter ended July 31, 2007 in the section entitled "Risk Factors."