Take-Two Interactive Extends Rockstar Agreement

December 25th, 2008

Take-Two Interactive Software is on the move this holiday season. Earlier this week, the company announced a release date for Grand Theft Auto: Chinatown Wars, and on Wednesday it inked a deal with the developers of the series. But its earnings report gave investors cause for concern.The company signed a new long-term employment agreement with Rockstar Games, the studio behind the blockbuster Grand Theft Auto video-game franchise. That deal, which runs through Jan. 31, 2012, means key Rockstar executives Sam Houser, Dan Houser, and Leslie Benzies will continue to develop new titles for the smash series under the umbrella of Take-Two.

Take-Two also agreed to fund the future development of new intellectual property to be owned by a newly formed company that key Rockstar Games team members will control. The new games will be published exclusively by Take-Two. Financial terms were not disclosed.

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