In surprising news, Take 2 has decided to buy out TDK Mediactive in a deal worth a staggering £14.4 million.
No doubt eyeing the relationship with Disney etched out by TDK over the past two years, Take 2 will pay off all of TDK Mediactive’s debts and acquire all remaining corporately-held shares.
Take 2 will also take over the Disney tie-in The Haunted Mansion.
Jeffrey C. Lapin, Chief Executive Officer of Take-Two Interactive, said, "In a little over two years, TDK Mediactive has become a meaningful player in the interactive entertainment industry by identifying, securing and building strong video game franchises based on popular, well established licensed brands. The addition of TDK's mass market and children's licensed properties to Take-Two's properties will complement our portfolio of proprietary brands, and provide an excellent platform for Take-Two to further expand and diversify its product offerings. In addition, our proven product development and marketing capabilities will enhance TDK's product offerings and our distribution resources will provide additional outlets for TDK's products.”