United News of Bangladesh

Take-Two Interactive, the publisher of the “Grand Theft Auto” franchise, has announced plans to raise $1 billion by selling common stock, with an option for underwriters to purchase an additional $150 million in shares over the next 30 days, subject to market conditions. The move, revealed on Tuesday, comes less than a week after the company reported its latest earnings, which included a writedown exceeding $3 billion. Following the announcement, Take-Two’s shares fell nearly three per cent in after-hours trading, reports Variety. According to the company, “Take-Two intends to use the net proceeds for general corporate purposes, which may include the repayment of outstanding debt and future acquisitions.” The stock sale arrives amid heightened anticipation—and some investor concern—over the delayed release of “Grand Theft Auto 6,” which has been pushed back from its initially planned fall 2025 launch to May 26 next year. The game is being developed by Rockstar Games, a Take-Two subsidiary. Rockstar confirms GTA VI to launch 'May 26, but not this year' Take-Two chairman and CEO Strauss Zelnick acknowledged the impact of the delay on expectations for fiscal year 2026, which runs from April 1 to March 31 next year. “Obviously, the net bookings that are expected for Fiscal ’26 are lower without the release of ‘GTA 6,’ that goes without saying,” Zelnick said. “But we haven’t actually parsed what the specific effect is, although analysts have speculated.” “I think the key point to bear in mind is, once again, we’re setting a record, which is what we said we would do,” he added. “We certainly expect growth in Fiscal ’27. This company is in extraordinarily sound shape and well positioned both for the challenges and opportunities ahead.”