Take-Two Interactive Software Inc. Chief Executive Officer Strauss Zelnick wanted to run a Hollywood studio when he was a kid.
\n\nThe Harvard University business and law school graduate worked his way up to become president of 20th Century Fox by his early 30s, but soon realized the industry wasn’t the growth one he envisioned. So he ditched movies and TV shows for the up-and-coming business of video games.
\n\n“I left Fox voluntarily, which no one ever does, to move to Silicon Valley, take a 95% pay cut and become the pre-revenue CEO of a little tiny video-game company called Crystal Dynamics in 1993,” Zelnick said in an interview for Bloomberg’s The David Rubenstein Show: Peer to Peer Conversations.
\n\nThat move proved a shrewd one for Zelnick. Since an investor group led by Zelnick took control of Take-Two in March 2007, the shares have soared 12-fold. That’s thanks to successful game franchises like BioShock, Red Dead Redemption and Borderlands.
\n\nThe biggest of them all is set to launch on Nov. 19 when Take-Two’s Rockstar Games unit releases Grand Theft Auto VI, the latest iteration of the modern-day gangster title. The last edition of the game sold nearly 235 million copies.
\n\n“We…
Original source: https://www.cnbctv18.com/entertainment/
