Strauss Zelnick, CEO of Take-Two Interactive, has definitively stated that the company has no interest in selling to external parties, including Netflix, as industry consolidation continues. The remarks come as Take-Two, publisher of the Grand Theft Auto franchise, prepares for the highly anticipated November launch of GTA 6.
Appearing on CNBC, Zelnick addressed speculation that a recent partnership with Netflix for the release of the next GTA 6 trailer might signal a potential acquisition. He clarified that such collaborations, which include Netflix distributing some Take-Two titles through its Netflix Games service, are purely strategic and not indicative of a sale. "We are not interested in selling to anyone at the moment," Zelnick asserted, emphasizing Take-Two's pride in its independent growth and its position as the largest public "pure-play" gaming company globally.
Zelnick noted Netflix's increasing presence in the gaming sector, suggesting it is a natural expansion for a company focused on subscriber growth and entertainment. "So, it stands to reason that they would make their way into the business of games," he commented regarding Netflix's ventures.
Take-Two anticipates exceeding $8 billion in revenue this year and consistently generates profits. Zelnick highlighted the company's strong financial performance and market standing, with its shares trading above $250 and a market capitalization north of $47 billion. This commitment to independence contrasts with recent major acquisitions in the industry, such as Microsoft's purchase of Activision Blizzard and Saudi Arabia's Public Investment Fund's acquisition of Electronic Arts.
Despite the industry's trend toward consolidation, Zelnick reiterated Take-Two's strategy of independent development and growth. The company is poised for a significant year, culminating in the launch of Grand Theft Auto 6 for PlayStation 5 and Xbox Series X|S. Further details and content for GTA 6 are expected to be revealed by Rockstar Games via Netflix on August 27.