Private Division Announces Publishing Partnership with Wētā Workshop

Rhea-AI Summary

Take-Two Interactive (NASDAQ: TTWO) announced a new publishing agreement through its label Private Division with Wētā Workshop, known for their work on the Middle-earth universe. The collaboration aims to develop a new game set in this celebrated realm. Wētā Workshop has broad creative rights from Middle-earth Enterprises to explore the lore of J.R.R. Tolkien's works. Although the game is in early development with no release date, it is expected to launch during Take-Two’s Fiscal Year 2024, promising unique experiences for both fans and new players.

Positive

• New publishing agreement enhances Take-Two's game portfolio.
• Partnership with renowned Wētā Workshop promises high-quality game development.

Negative

• Game is still in early development with no confirmed release date.

Renowned New Zealand company developing a new game set in the Middle-earth universe of J.R.R. Tolkien

NEW YORK--(BUSINESS WIRE)-- Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced they have signed a new publishing agreement with Wētā Workshop, best known their work on Middle-earth for The Lord of the Rings film trilogy. In 2014 Wētā Workshop founded an interactive game division and are now developing a new game set in the Middle-earth universe of J.R.R. Tolkien. Middle-earth Enterprises have licensed the literary works of the series, providing Wētā Workshop with the broadest creative license to interpret the underlying lore of the books.

Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced they have signed a new publishing agreement with Wētā Workshop, best known their work on Middle-earth for The Lord of the Rings film trilogy. In 2014 Wētā Workshop founded an interactive game division and are now developing a new game set in the Middle-earth universe of J.R.R. Tolkien. Middle-earth Enterprises have licensed the literary works of the series, providing Wētā Workshop with the broadest creative license to interpret the underlying lore of the books. (Graphic: Business Wire)

“We are thrilled to partner with Wētā Workshop to publish a game set in such an extraordinary and celebrated universe,” said Michael Worosz, Chief Strategy Officer, Take-Two Interactive, and Head of Private Division. “The Lord of the Rings IP is home to so many remarkable stories, and no entity is better equipped than the team at Wētā Workshop to create a distinctive, new Middle-earth gaming experience.”

“It’s a privilege to create a new game set in Middle-earth, especially one that’s so different from what fans have played previously,” said Amie Wolken, Head of Interactive at Wētā Workshop. “As fans ourselves, we’re excited for gamers to explore Middle-earth in a way they never have before, and introduce new fans to the magic of The Lord of the Rings.”

This title is in early development and does not yet have an announced release date. It is expected to launch during Take-Two’s Fiscal Year 2024. Private Division and Wētā Workshop look forward to sharing more details about this game in the future.

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Private Division is a publishing label of Take-Two Interactive Software, Inc. (NASDAQ:TTWO).

About Middle-earth Enterprises

Inspired by a deep appreciation for the fictional world created by J.R.R. Tolkien, Middle-earth Enterprises is dedicated to working with businesses providing quality products in accordance with best green business and sustainability practices including fair trade, equality in the workplace, and a commitment to protect our earth, its wondrous beauty and the viability of every living creature. Middle-earth Enterprises has been producing and licensing films, merchandise and stage productions based on The Lord of the Rings and The Hobbit books for more than four decades. With headquarters located in Berkeley, California, its website may be found at www.middleearth.com.

About Wētā Workshop

Wētā Workshop brings imaginary worlds to life by delivering concept design, physical effects, collectables, immersive visitor experiences and games to the world’s entertainment and creative industries.

Established by Richard Taylor and Tania Rodger in 1987, we are best known for our screen work on The Lord of the Rings trilogy, Avatar, and Dune, our immersive visitor experiences, Gallipoli: The Scale of our War, Expo 2020 Dubai’s Mobility Pavilion and Wētā Workshop Unleashed. Based in Wellington, New Zealand, Wētā Workshop’s ground-breaking work has earned us multiple international awards. Our Interactive division was established in 2014 and is led by an experienced team of creative game developers and film veterans who bring Wētā Workshop’s signature storytelling, technical innovation and artistry to our games studio.

About Private Division

Private Division is a developer-focused publisher that partners with the finest creative talent in the video game industry, empowering studios to develop the games that they are passionate about creating, while providing the support that they need to make their titles critically and commercially successful on a global scale. The Label publishes the Kerbal Space Program franchise, Ancestors: The Humankind Odyssey from Panache Digital Games, The Outer Worlds from Obsidian Entertainment, Disintegration from V1 Interactive, and OlliOlli World and Rollerdrome from Roll7, with future unannounced projects in development with Moon Studios, Evening Star, Piccolo Studio, Yellow Brick Games, and other esteemed independent developers. Private Division publishes the physical retail edition of Hades from Supergiant Games on PlayStation^® and Xbox consoles. Private Division continues to build its internal studio capacity, with Roll7 and Intercept Games as internal developers for the Label. Private Division is headquartered in New York City with offices in Seattle, Las Vegas, Munich, and Singapore. For more information, please visit www.privatedivision.com.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are currently designed for console gaming systems, PC, and Mobile including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.

All trademarks and copyrights contained herein are the property of their respective holders.

Cautionary Note Regarding Forward-Looking Statements

Statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," “should,” "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: risks relating to our combination with Zynga; the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect that measures taken to mitigate the COVID-19 pandemic have on our operations, including our ability to timely deliver our titles and other products, and on the operations of our counterparties, including retailers and distributors; the effects of the COVID-19 pandemic on both consumer demand and the discretionary spending patterns of our customers as the situation with the pandemic continues to evolve; the risks of conducting business internationally; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; the timely release and significant market acceptance of our games; the ability to maintain acceptable pricing levels on our games; and risks associated with international operations.

Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005032/en/

Brian Roundy

Global Director

Communications

Private Division

(646) 536-2936

press@privatedivision.com

Alan Lewis (Corporate Press)

Vice President

Corporate Communications & Public Affairs

Take-Two Interactive Software, Inc.

(646) 536-2983

Alan.Lewis@take2games.com

Source: Take-Two Interactive

FAQ

What is the new game being developed by Take-Two Interactive?

Take-Two Interactive is developing a new game set in the Middle-earth universe in collaboration with Wētā Workshop.

When is the expected release date for the new game from Take-Two?

The game is expected to launch during Take-Two’s Fiscal Year 2024, but no specific release date has been announced yet.

Who is developing the new game for Take-Two Interactive?

The new game is being developed by Wētā Workshop, known for their work on The Lord of the Rings film trilogy.

What creative rights does Wētā Workshop have for the new game?

Wētā Workshop has broad creative rights from Middle-earth Enterprises to explore the lore of J.R.R. Tolkien's works.