Take-Two's Zelnick Passes on Newspaper Purchase

May 29, 2009 -

Take-Two Interactive Chairman Strauss Zelnick seems like a pretty smart guy, so we were surprised to learn that he was actually considering buying a newspaper. In the end, he wised up, however.

Reuters reports that Zelnick decided to pass on acquiring the Austin American-Statesman. The Texas paper had a daily circulation of 152,691 as of March.

Zelnick's private equity firm ZelnickMedia Corp. never made a formal bid and decided to pull out of negotiations as the sorry state of the newspaper business continued to worsen.


Comments

Re: Take-Two's Zelnick Passes on Newspaper Purchase

In before Thompson gloats that Straus doesn't know what he's doing.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

You don't invest in a failing company, I wish the people running "obamanomics" knows that.

"We invest in a sick and dying horse and we didin't win! Why did this happen?" 

Then

"Hey guys, I gotta tell you that we lost a bunch of money when we bet on that horse so we gotta charge you 10-25% on everything you buy to make up that money even though it's primarly my fault."

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Define "failing company". Is it one facing chapter 7 bankruptcy? One facing chapter 11 bankruptcy? One asking congress for help? One that's in need of a management change?

-Gray17

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Does it really matter? If their filing bankruptcy obviously something is wrong with the company. Chapter 7 is management but those companie's got there in the first place through their own failing. Take for example Midway whom spent so much money on original IP that sucked, same with Ford and GM. It should be "You shoulden't have relied on your trucks and SUV's too bad so sad, you should have diversified." or, "You shoulden't have given out loans to people you know they can't pay back, you failed sorry." The concept of bailing out a company is insane because they failed in some way shape or form, they should be replaced by a company that doesn't fail. Don't keep those who fail at their job and get people who can keep their jobs.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

same with Ford and GM

And yet oddly enough, Ford hasn't gotten a bailout, and isn't staring bankruptcy down the throat. Hence my asking what you're definition of what a failing company is.

-Gray17

Re: Take-Two's Zelnick Passes on Newspaper Purchase

The primary definition of capitalism, right there.  The problem is that liberals are trying to spread a message that if people do something wrong, it's always someone elses fault.  Therefore, nobody needs to be held responsible for their actions.

Also, just an FYI; it's GM and Chrysler that were bailed out.  It's looking like Ford will be able to weather the storm without taxpayer's money.

 

Freedom of speech means the freedom to say ANYTHING, so long as it is the truth. This does not exclude anything that might hurt someone's feelings.

--- With the first link, the chain is forged.

Re: Take-Two's Zelnick Passes on Newspaper Purchase

Imagine being the only paper on the continent that couldn't write stories about how GTA turns kids into cop killers.  That's your entire technology section gone.

---
The Mammon Philosophy

---
Fangamer

Re: Take-Two's Zelnick Passes on Newspaper Purchase

He's an intelligent man who made a sound business decision.  Good for you Strauss.

 
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Matthew Wilsonmy god....... people need to play life is strange. its a very very dark version of twin peaks08/01/2015 - 12:56pm
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DocMelonheadIP wanted you to know that GamerGate is about Harassing minorities into submission, not "Ethnics in Journalism". It been a year since the Zoe Post was published and sparked a hate mob on Zoe Quinn.08/01/2015 - 12:28pm
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MechaCrashNo, IP is trying to dehumanize you, I'm just pointing out that you're a hypocrit who makes bad faith arguments.08/01/2015 - 11:56am
Andrew EisenAnd I'm off too. Play nice, y'all!08/01/2015 - 11:33am
Andrew EisenIn short, discussions of ethics in journalism? Totally fine. Said indie dev's sex life? Not okay.08/01/2015 - 11:31am
james_fudgeTry talking when you have hundreds of people tweeting at you at the same time :)08/01/2015 - 11:30am
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Goth_SkunkAnd yet the sex life of this indie developer tied right into the matter of journalistic ethics, as investigations uncovered a great number of breaches of ethical conduct, both related & not. That scandal is the orifice from which the balloon is inflated.08/01/2015 - 11:20am
MechaCrashI am reminded of the saying about playing chess with a pigeon.08/01/2015 - 11:13am
Andrew EisenThis is supported by, well, what actually happened, but also the text of the actual leaks. That was Tito's question and what he and a few (four total, I think) were discussing.08/01/2015 - 11:11am
Andrew EisenNo, it's not. What was generally prohibited was not discussion of journalistic ethics or other GamerGate topics, but threads that were, for example, discussing the sex life of an indie developer. THOSE are what were locked and removed.08/01/2015 - 11:10am
Goth_SkunkI don't believe you. Not for a second. Every major site with the exception of the Escapist prohibited discussion of GamerGate in its early stages. That is a fact.08/01/2015 - 11:04am
Andrew EisenNo, that's a fact. Don't believe me, read 'em yourself. No one was trying to censor discussion of GamerGate.08/01/2015 - 11:02am
 

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