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Author:

Jester Debunker

Subject:

News

Date:

04/13/16 at 10:47 AM CDT

 

 

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Benzies vs Rockstar

The Benzies vs Rockstar feud is a fascinating read.

First, Benzies claiming they dumped him without cause and cut him out of $150M in profit sharing owed.

scribd.com/do...ckstar

Second, Rockstar's response, essentially saying you were guaranteed nothing.

scribd.com/do...ENZIES

Some amazing details in there. The 2009 Royalty Plan was for 50% of Rockstar's Net Operating Income to be split, and it sounds like virtually all of that went to the Housers and Benzies. As of Dec 2014 that pool contained $523M! So that's where all the Take Two profits have gone over the years. 50%!!!! I figured it would be high, but I never for a moment thought it would be that much. Then you have Strauss sucking at the teat from the Take Two side of things. The hundreds of devs working so hard on GTAV and other games get scraps.

I don't think Benzies has much of a case here, despite it being clear that the Housers kicked him out to avoid paying more royalties, not too dissimilar to the Activision and Infinity Ward break-up. Those profits Benzies hoped to get will now be enjoyed by the Housers, not being returned to shareholders in any way.


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Author:

LongTerm CapGains

Subject:

News

Sentiment:

Neutral

Date:

04/13/16 at 10:57 AM CDT

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