Carl Icahn Now Owns 10% of Take-Two Interactive


Carl Icahn Now Owns 10% of Take-Two Interactive

Carl Icahn has just increased his stake in the video game maker Take-Two Interactive Software, Inc. (NASDAQ:TTWO) to nearly 10% of outstanding shares. Previously, Carl Icahn owned 8.7% of the Video Game Maker’s shares. Icahn filed a 13D this evening with the SEC, the filing is usually required when an investor takes more than a 10% stake in a company. With 8,686,074 shares held, Icahn has a position worth approximately $80 million.  Famous for his activism, Carl Icahn’s slight boost in the company could be an attempt to put pressure on the management. Icahn is the largest shareholder of the company, followed by BlackRock.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is a leading worldwide developer, publisher and distributor of interactive software games. The company’s software operates on multimedia personal computers and video game console platforms. They are one of the largest distributors of interactive software games in the United States and one of the top publishers of interactive software games in Europe.

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For the three months ended 30 June 2012, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) revenues decreased 32% to $226.1M. Net loss before extraordinary items increased from $8.6M to $110.8M. Revenues reflect United States segment decrease of 30% to $105.9M, Europe segment decrease of 36% to $82.5M. Higher net loss reflects Interest and other, net increase from $3.7M to $8M (expense), Selling and marketing increase of 6% to $79M (expense).

Disclosure: No position