After careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.

Check out the following new screens & trailer from Take-Two's Games Convention 2008 lineup:

• 'BioShock' (PS3) - 4 New Screens
• 'Borderlands' (PS3/X360/PC) - 9 New Screens
• 'Carnival Games: Mini-Golf' (Wii) - Facts, Features, Screens & Trailer
• 'Champions Online' - 10 New Screens
• 'Sid Meier's Civilization IV: Colonization' - 22 New Screens
• 'NBA 2K9' (ALL) - 4 New Screens
• 'NHL 2K9' (ALL) - 5 New Screens

EA has decided to let its tender offer expire later today after CEO John Riccitiello had a discussion with Take Two's Executive Chairman of the Board of Directors Strauss Zelnick pending a management presentation to EA containing non-public information such as information relating to its three year product release schedule, so that it can better understand the value of the company.

Check out the following new screens from Take-Two's E3 2008 lineup:

• BioShock (PS3) - Screens
• Borderlands (PS3/X360/PC) - Screens
• Champions Online' - Screens
• Sid Meier's Civilization IV: Colonization' - 5 New Screens
• MLB Power Pros 2008 (NDS/PS2/Wii) - Screens
• NBA 2K9 (ALL) - 10 New Screens
• NHL 2K9 (ALL) - 17 New Screens

Having expired July 18, 2008 at midnight New York City time, EA announced that it has once again extended its tender offer for all of the currently outstanding shares of common stock of Take-Two to 11:59 p.m., New York City time, on August 18, 2008, unless further extended.

Electronic Arts announced that it has extended its tender offer (which expired June 16, 2008 at 11:59 p.m.) for all of the currently outstanding shares of common stock (including the associated preferred stock purchase rights) of Take-Two to 11:59 p.m., New York City time, on July 18, 2008, unless further extended.

Take-Two's Q2 2008 financial results revealed its net revenue more than doubled compared to last year (from $205.4 million to $539.8 million), not surprisingly led by GTA IV which has sold 8.5 million copies so far. Bad news for X360 owners as the platform exclusive content updates are getting pushed until Q1 2009 (between Nov 1, 2008 and Jan. 31, 2009), "in order to provide a better balance in Take-Two's release schedule." Bioshock, which so far has sold 2.2 million copies, will become a trilogy as Take Two CEO Zelnick hints at a 3rd title in the franchise to coincide with the, previously rumored, but now confirmed movie.

Previously set to expire over the weekend, EA today that it has extended its tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software Inc. to Monday, June 16, 2008, unless further extended.

A recent SEC filing reveals that Electronic Arts has arranged an agreement with Morgan Stanley, BNP Paribas, The Bank of Nova Scotia and KeyBank National Association for a whopping $1 billion in case it needs the funds to acquire Grand Theft Auto publisher Take-Two. EA initially made a $2 billion offer, which Take Two turned down, so these funds may be used to raise the offer now that GTA's $500 million first-week revenue has surely increased the company's overall value. The multibank agreement gives EA access to the funds until Jan. 9, 2009.

Take-Two announced that Hubert Larenaudie, a senior executive with more than 15 years’ experience in building successful Asia Pacific businesses, has joined the company to spearhead its expansion initiatives in this rapidly growing region.

Even after being turned down earlier this week, EA is not ready to give up just yet and has amended its tender offer for all of the currently outstanding shares of common stock of Take-Two. EA has also extended its offer until April 18, 2008, a day after the Take-Two's annual stockholders meeting.

Earlier today, Take-Two chairman Strauss Zelnick attended The Bank of America SmidCap Conference, where he went into more detail about the rejection of EA's buyout offer. During his presentation, making use of various slides, it came to light that the publisher under siege is considering making MMOs out of the BioShock and Civilization franchises, as well as a possible Hollywood movie based on the former.

The Board of Directors of Take-Two Interactive announced that it has thoroughly reviewed EA's unsolicited conditional tender offer with the assistance of its financial and legal advisors and unanimously determined that the $26 per share cash offer is inadequate in multiple respects and contrary to the best interests of its stockholders.

EA announced that one of its wholly owned subsidiaries has commenced a tender offer for all of the currently outstanding shares of common stock of Take-Two for $26 per share in cash, making a total offer valued at approximately $2 billion, representing a 64% premium over Take-Two's closing stock price.

Take-Two's Q1 2008 financial result reveals net revenue down and an increase in net loss, but most importantly, 2K Games confirmed BioShock 2 is being developed by 2K Marin and is planned for release in the Q4 of fiscal 2009 (Aug.-Oct. 2009), the same time frame set for Mafia II. Borderlands, however, has been delayed until Nov. 2008 at the earliest, in order to give Gearbox additional development time, as well as Midnight Club: Los Angeles.

After industry rumors of Viacom planning to buy Take-Two for $1.5 billion, Electronic Arts has opened up its coffers and made a $2 billion cash offer for the company, which is best known for its Grand Theft Auto series. The Take-Two board turned down the deal as "unsolicited proposal as inadequate," so EA made the announcement in an attempt to sway Take-Two's shareholders.

UPDATE: We have included the conversational letters between Take Two's Strauss Zelnick and EA's CEO John Riccitiello.

Confirming its March 2007 shufflings, Take Two's Non-Executive Chairman Strauss Zelnick has been approved by the Board of Directors to the position of Executive Chairman, upon appointment was temporarily replaced by Ben Feder, who has in turn now been offered the CEO position through Oct. 31, 2012, while Karl Slatoff was named Executive Vice President.

Earlier today, industry rumors claimed that Viacom was planning to buy Take-Two for $1.5 billion. The match seemed to make sense, as Viacom owns Dreamworks Studios, MTV, Nickelodeon and Paramount Pictures, and Take-Two has game rights to many MTV and Nickelodeon IPs. However, unnamed sources have since refuted those rumors, and both companies are remaining mum. We'll report back as soon as there's confirmation one way or another ....

Take-Two Interactive announced the acquisition of Central European game development studio Illusion Softworks, best known for titles such as Mafia, Hidden & Dangerous. Currently working on Mafia II, all 200 Illusion Softworks employees will join Take-Two’s 2K Games publishing label and henceforth be known as 2K Czech.

Take-Two announced the formation of a new development studio under its 2K publishing label located in Novato, California, 2K Marin. The new studio, comprised of former BioShock team members, will develop original intellectual property, as well as co-develop products with other 2K studios around the world.

Take-Two announced that Gary Dale, previously Chief Operating Officer of Rockstar Games, has been named Executive Vice President, focusing primarily on optimizing the company’s sales and distribution activities, pursuing business development opportunities, and serving as corporate liaison with all of the publishing labels.

Take-Two announced the settlement of all consumer class action lawsuits pending in the United States against the Company and its subsidiary Rockstar Games, relating to a third-party program called the "Hot Coffee Modification" that could be used by consumers to alter the content of the Grand Theft Auto: San Andreas video game.

Earlier today, Take Two released its Q3 2007 financial results, and while net revenue was down ($206.4M, compared to $241.2M last year), mainly due to last year's GTA title, net loss was also down ($58.5M, compared to last year's $91.4M). The subsequent conference call revealed delays for L.A. Noire and Beaterator to Q1 2008 (not before November 2008). While Bioshock sold 1.5 million copies so far, All-Pro Football 2K8 disappointed.

Take-Two announced the formation of casual gaming label 2K Play, and signs an expansive licensing agreement with Nickelodeon, including top-rated properties Nick Jr. preschool television hits, Dora the Explorer and Go, Diego, Go!

Take-Two announced that it has sold all of the assets it owned of Joytech video game accessories subsidiary to Mad Catz Interactive for approximately $3.7 million, reflecting Take-Two's previously announced plans to divest its non-core businesses.