Keep pulling the thread on Strauss Zelnick.
ZMC executed a hostile takeover of Take-Two Interactive without using any of its own capital.
The commercial failure of the "E.T." video game resulted in a $400 million write-down for Warner Communications in 1982.
Thomas Middelhoff, CEO of BMG's parent company Bertelsmann, ordered the divestiture of its video game division before it had released any titles.
BMG sold its video game division to Take-Two Interactive for a 20% stake in the company, valued at $20 million.
BMG's CEO ordered the immediate sale of its Take-Two Interactive stock, which was sold on the open market for $14 million.
The first video game released by Take-Two Interactive after acquiring BMG's portfolio was Grand Theft Auto.
ZMC's turnaround of the Japanese record company Columbia Music Entertainment took 9 years and generated a 22% IRR.
In 2007, Take-Two Interactive was under investigation by four government entities: the IRS, SEC, New York DA's office, and FTC.
ZMC and its allies took control of Take-Two Interactive at the 2007 annual meeting with 88% of the shareholder vote.
The market capitalization of Take-Two Interactive has grown from approximately $700 million in 2007 to around $35 billion today.
Strauss Zelnick approved a decision to remake the game "Borderlands" two months before its scheduled release, incurring an additional $50 million in development costs and a one-year delay.
The release of Grand Theft Auto 6 is approximately 18 months behind its original planned date.