Nobody at Take-Two will have the guts to put any hidden sexual content in any game so people are making a bigger deal out of this than is there, … At the end of the...

We expect a price cut for the PS2 later this year. We believe that Sony will respond to Microsoft’s introduction of its next generation console with a cut from $149 to $99 some time before...

The year’s a mess. None of us thought six months ago the holidays would be so weak, and no one expected there’d be such a dramatic decline in sales for the current-generation of games.

Take-Two has always been a ‘trust us’ story. We think that Take-Two has become a ‘show me’ story.

Spielberg is a magnet to bring in talent. He will get all of Hollywood to start thinking about video games. Now you’ve got the guy who’s got a guaranteed $300-million box office thinking about it....

We are optimistic that Microsoft will remedy the supply-demand imbalance in the U.S. in the next two months, as it appears that recent manufacturing capacity will result in greater unit availability later this month.

Microsoft’s first-mover advantage is eroding if it takes them very long to get the first 5 million boxes out. If 4 million show up in the month of June and Sony launches in the month...

In the U.S. they’ll sell out at 1.5 million right away. They won’t last a week.

I think the SEC is very likely trying to understand what industry practices are and see if these guys have the potential to manipulate earnings,

EA has a bunch of underperforming games, and I think that the cuts reflect that. Other publishers will cut underperformers as well.

I think they are being appropriately conservative about Christmas because it’s November 1.

Warcraft is so good and so good-looking that it got this immediate attraction; everybody who would ever consider playing an online game said, ‘This is the one. I gotta try it.’ And what’ll happen is...

They wouldn’t have held a press conference if they didn’t have all the components lined up already.

It appears that 2006 is following a similar pattern to 2000, when the last console transition began. Consumers have slowed purchases of current generation console software while waiting for the opportunity to purchase an incredible...

The earlier movers aren’t making a decision between the two.

Nothing fundamentally drove [the stock] up, and nothing fundamentally drove it down. It’s Redstone.

I’m surprise that the na ”,vet ”© of the NFL and its players, … By giving a five-year license and giving EA an exclusive, they’re going to eliminate all of the competition. So in five...

We believe that January sales may have been even worse had Microsoft continued its marketing push, and believe that sell through was helped in part by deep discounting of new releases during the month. January...

We do not believe that recent weakness will persist, and expect a sales rebound in November and December.

[Sony’s people have] bet the entire future on this, … It’s too important for them to lose, so they will do everything they can to win.

Most of the press are fixated on video games. They think Sony is only in a battle with Microsoft. Sony is in a battle to make as much money as possible for the privilege of...

The best business for a publisher is to give people what you know they want. And what you know they want is a sequel to what they wanted last time. So we don’t see a...

We expect modest growth in November and dramatic growth in December,

You’re going to see the Revolution as the second console of choice in the household.

I want to see the games side by side. I want to see Madden for the Xbox 360 next to Madden for the PlayStation 3.

We believe that speculation about a potential leveraged buyout is unfounded. If anything, Take-Two’s disclosure that it may require additional capital to fund next generation game development suggests to us that it is not an...

[Microsoft is] trying to turn this into the Cabbage Patch Kids, … It’s brilliant marketing.

We note that NPD U.S. retail video-game software sales data for the January quarter implies that Take-Two’s sales are down 40 percent compared with the prior-year quarter, so we believe that the company is likely...

By definition early adopters aren’t price conscious.

Every now and then a company will come up with something really innovative and they’ll sequel it to death.

It will limit the success if they’re not materially better than the current-generation games. The analogy is, do you buy a new PC if you don’t have a reason to? You just don’t do it.

More consumers than any of us expected are slowing their purchase of software, waiting for the next-gen consoles.

The lack of specific guidance reflects that these guys weren’t really prepared for a downturn and they are not really sure how bad it is, how long it will last, or whether it will persist...

What everybody needs to understand is Sony is not competing with Microsoft. Sony’s competition is with Toshiba.

Given continued uncertainty among consumers about the availability of Xbox 360 units, we think that slow sales may persist in December.

After April, we expect monthly next generation software sales to remain fairly stable at around $100 – 150 million through October (representing year-over-year growth of $80 – 130 million), with declines of current generation software...

The question is, How many of those who didn’t buy a 360 in December will now wait for the Sony? Some will.

The problem I have with the whole sequel thing is it’s not just sequels. It’s once we see that World War II combat shooters work, we’ve got 50 of them. The funny thing is the...

We do not expect a current generation Xbox price cut from Microsoft this year, notwithstanding the company’s stated intention to ‘support’ the current generation console. We believe that Microsoft’s production cost of the Xbox is...

The amount involved is so small, I think they sent a strong negative signal to the market for not a lot of money.

It’s like a shifting of loan repayment responsibility, collateralized by Midway shares.

Nobody comes in to bid on that. They wait for the body to stop twitching, then swoop down and pick the meat off the carcass.

There are 5 million people who really believe they are getting an Xbox 360 relatively soon, by February. Microsoft has shipped 500,000 units, so 4.5 million people are doing nothing. That’s enough to just kill...

They need a capital infusion to grow.

I think they are very close to the edge with the banks. If the business plays out the way I think it will play out, they won’t trip the covenants. I think they are not...

Clever and different and new doesn’t necessarily work unless you convince consumers that they really want it.

[As such,] only one in 16 people need to rent an extra movie in the new extended rental period to offset the late-fee loss, and that’s not that hard to get, … When you let...

NPD US retail video game software sales data for the January quarter implies that Take-Two’s sales are down 40 percent compared with the prior year quarter.

We believe that industry sales have been quite weak since Take-Two’s late October negative preannouncement, primarily due to consumer malaise and a shortage of Xbox 360 hardware… Given weak November NPD sales and Electronic Arts’...

The company continues to invest in its future, generating large losses along the way, and we expect this to continue throughout 2006.