Sony reportedly looking to buy Rockstar publisher Take-Two Interactive (UPDATE)

UPDATE: After this story ran, reached out to Joel Kulina, the person quoted as the source saying Sony would be buying Take-Two Interactive. He refuted his comments about the rumor.

“This is purely unconfirmed market speculation that is making the rounds,” he said. “I am not the source of this story in any regard. And not sure who quoted me as I didn’t speak with anyone over the phone (unless someone saw a trading note that I wrote).”

The authors of the original piece stated that they had said Kulina’s note was the only source they had on the rumor. This doesn’t totally mean that Sony isn’t buying Take-Two, but it is mainly just people talking about what they have come across.

Original story: Sony may be looking to expand its portfolio. According to recent rumblings, Sony might be seeking to acquire Take-Two Interactive Software, publisher of games like Mafia 3, Borderlands, and Red Dead Redemption.

This news comes from Take-Two’s increased stock prices. The explanation given was because of an “advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal.” This would lead shares being $130 each, according to Joel Kulina, who is head of technology and media trading at Wedbush Securities, an investment firm based in Los Angeles.

At this stage, it’s not clear what an acquisition would mean. Take-Two doesn’t own as many IP as you may think. However, it would be a roundabout way for Sony to own Agent, the lost and canceled Rockstar game that was announced at E3 2009 as a PS3 exclusive.

It’s important to remember that is just a rumor. There are always faint echoes of big corporations in the video games buying each other that never materialize. For example, rumors flew around in early 2018 about Microsoft buying EA, which never came to fruition.