Pachter: GTA may go on under EA even without Rockstar North

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A good number of gamers and investors probably have their fingers crossed while Electronic Arts' offer to acquire Take-Two Interactive is still on the table, but Wedbush Morgan analyst Michael Pachter doesn't seem worried. He believes the Grand Theft Auto franchise can live on even without the developer Rockstar North's help in case it branches off after the acquisition.

In EA's hands, Pachter sees a possibility for GTA to be released every two years and publisher will make US 150 million for every release due to acquired technology and intellectual property to create GTA4. Of course, sales still boil down to the game's quality, so Pachter's number for GTA is at US$600 million every other year if the current creative team behind its success, Rockstar North, continues to develop the games.

On the other hand, Wedbush Morgan noted a decline in EA's stocks today which people claim as suggestive that "investors are concerned about whether the Rockstar North team will remain after a change in control."

The analyst group doesn't see any repercussions if Take-Two is to reject EA's offer, and expects the giant publisher to just take back its US 2 billion with no other big companies showing signs of making a similar deal. If EA succeeds in acquiring GTA's current publisher, Pachter foresees a bidding war with developer Rockstar North up for grabs as its contract with Take-Two expires in February 2009.