News : Living : Take-Two and Microsoft make a deal

Take-Two and Microsoft make a deal

Wednesday, 20-Jun-2007 01:20PM EDT
Story from United Press International. Copyright 2007 by United Press International (via ClariNet)

NEW YORK, June 20 (UPI) -- Microsoft has paid New York's Take-Two $50 million for the exclusive rights to two downloadable add-ons to the Grand Theft Auto IV video game.

Take-Two Interactive Software will create two downloadable episodes exclusively for Microsoft's Xbox360, The New York Times reported Wednesday.

Grand Theft Auto IV will be released in stores in October for both Microsoft's Xbox and the Sony PlayStation 3.

Take-Two executives said the $50 million will be split into two $25 million installments as each episode is released, with the first payment coming in March 2008.

Even with its successful Grand Theft Auto series, Take-Two has had financial issues and also had a shareholder uprising that resulted in media executive Strauss Zelnick taking over as company chairman.

Microsoft would not comment on the deal with Take-Two but said: "The quality, depth and breadth of our Xbox 360 portfolio is a testament to the great relationships we've established over the years with our third-party partners."

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