Take-Two and EA fiasco is indeed a fiasco

Most of the time members of top ten lists can be argued to the ends of Earth, but I don’t think anyone is going to call foul with The UBS Global Media & Communications Conference in New York who has listed the whole Take-Two/EA buyout debacle as the second worst media deal of 2008, and the egg is on Take-Two’s face. Those silly GTA guys basically missed out on one of the best money making opportunities of the year.

See, EA was offering to buy Take-Two’s stock at $25.75, which was a really high premium at the time and, considering their stock is hovering at about $8, must look even better now than before. Then again, the whole stock market is down, and EA is at $17 bucks. Still, the fine men and women running Take-Two could be rolling in a lot more money than they are right now. However, they can rest easy that they are not the only dumb media corporations out there (or the only dumb corporations in general judging from the current economy) as CBS, Time Warner and Yahoo were, uhhh, honored too.