2K Games announced today that it has reached an agreement for BioShock®,
the universally acclaimed smash-hit video game, to be developed as a
feature film by Universal Pictures. 2K Games, whose 2K Boston and 2K
Australia studios developed BioShock, is a video game
publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
The prospect of bringing this blockbuster game to life has attracted not
only a major studio, but top Hollywood talent. Gore Verbinski, director
of the Pirates of the Caribbean trilogy, is slated to direct and
produce the BioShock movie. John Logan, Academy Award-nominated
writer of Gladiator, The Aviator and Sweeney Todd,
is in talks to do the screenplay.
The expected release date and terms of the agreement were not disclosed.
An original property developed by 2K Games, BioShock is
one of the most successful new interactive entertainment franchises to
launch in recent years. A critical and consumer hit, BioShock has
sold more than 2 million units worldwide since its release in August
2007. A sequel to the game, BioShock 2, is planned for a
release in 2009.
“We are excited that 2K Games’
vision for BioShock will be carried forward in a new
medium,” said Strauss Zelnick, Chairman of
Take-Two. “BioShock has been
hailed as one of the most highly cinematic and richly plotted titles in
interactive entertainment, making it extremely well-suited to film. In
partnering with Universal and Gore Verbinski, we have assembled a team
that respects the uniqueness of BioShock and will
translate it into a powerful movie experience.”
Mr. Zelnick added, “Our ability to attract a
major studio and unparalleled creative team speaks volumes about the
strength of our BioShock franchise. It also demonstrates
how Take-Two is delivering value based on our strategy of creating and
owning our industry’s most powerful
intellectual property.”
Christoph Hartmann, President of 2K Games, noted, "BioShock
fans appreciate the depth and complexity of the game, and our
partnership with Gore Verbinski will introduce the world of Rapture to
an even wider audience. In addition to his impressive body of work, Gore
is an avid video gamer and true fan of BioShock. That was
extremely important to us in deciding to move forward with this project."
BioShock: Triumph of the Imagination
Considered to be one the finest games in the history of interactive
entertainment, BioShock unfolds as a deep and exciting
adventure. Barely surviving a plane crash, the player lands in icy
uncharted waters and discovers an undersea city called Rapture, a failed
utopia whose citizens had embraced genetic engineering before the city
descended into pure anarchy. Power and greed have run amok and the city
has succumbed to civil war. It is a gripping game that forces the player
to make complex moral choices. Fans have embraced BioShock’s
mysterious world filled with powerful technology and fascinating
characters. BioShock is also renowned for its rich visual
detail depicting a gorgeous Art Deco world set deep beneath the sea.
BioShock has earned some of the highest ratings and
strongest accolades in video game history. It is one of the best-rated
titles for Xbox 360™ video game and
entertainment system from Microsoft, with a MetaCritic rating of 96.
Numerous organizations bestowed "Game of the Year" status on BioShock
in 2007, including The Associated Press, the British Academy of Film
and Television Arts (BAFTA), Game Informer, Spike TV's Video Game
Awards, G4's X-Play, Amazon.com, The Houston Chronicle and Paste
Magazine. Additionally, BioShock ranked among the top 10
titles on many other "Best of 2007" award lists, including The New York
Times, Time Magazine and Maxim. BioShock was internally
developed by 2K Boston and 2K Australia and is owned by the 2K Games
label of Take-Two Interactive Software.
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.
About 2K Games
2K Games is a publishing label of Take-Two Interactive Software, Inc.
With nearly 500 developers and six internal studios, 2K Games is also
the publisher of such hit franchises as Sid Meier’s
Civilization, Mafia and The Elder Scrolls.
All trademarks and copyrights contained herein are the property of their
respective holders.
© 2008 Microsoft Corporation. All rights
reserved. Microsoft, Xbox, Xbox 360, Xbox LIVE and the Xbox logos are
trademarks of the Microsoft group of companies and are used under
license from Microsoft.
“PlayStation,” “PLAYSTATION,”
“PS” Family logo
and “PSP” are
registered trademarks of Sony Computer Entertainment Inc. PSP®
system – Memory Stick Duo™
may be required (sold separately).
Important Legal Information
In connection with the tender offer commenced by Electronic Arts Inc.,
the Company has filed with the Securities Exchange Commission a
Solicitation/Recommendation Statement on Schedule 14D-9. The Company's
stockholders should read carefully the Solicitation/Recommendation
Statement on Schedule 14D-9 (including any amendments or supplements
thereto) prior to making any decisions with respect to Electronic Arts'
tender offer because it contains important information. Free copies of
the Solicitation/Recommendation Statement on Schedule 14D-9 and the
related amendments or supplements thereto that the Company has filed
with the SEC are available at the SEC's website at www.sec.gov.
This communication does not constitute an offer to sell or invitation to
purchase any securities or the solicitation of an offer to buy any
securities, pursuant to Electronic Arts’
tender offer or otherwise.
This press release may contain 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. Further risks and
uncertainties associated with Electronic Arts' tender offer to acquire
the Company's outstanding shares are as follows: the risk that key
employees may pursue other employment opportunities due to concerns as
to their employment security with the Company; the risk that the
acquisition proposal will make it more difficult for the Company to
execute its strategic plan and pursue other strategic opportunities; the
risk that the future trading price of our common stock is likely to be
volatile and could be subject to wide price fluctuations; and the risk
that stockholder litigation in connection with Electronic Arts' tender
offer, or otherwise, may result in significant costs of defense,
indemnification and liability. Other important factors are described in
the Company's Annual Report on Form 10-K for the fiscal year ended
October 31, 2007, in the section entitled "Risk Factors," as updated in
the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended
January 31, 2008, in the section entitled "Risk Factors." All
forward-looking statements are qualified by these cautionary statements
and are made only as of the date they are made.
