February 11^th, 2004 (12:00am) - Take-Two Licensing, Inc., a wholly owned subsidiary of Take-Two Interactive Software, Inc. today announced an agreement with Cartoon Network allowing Take-Two ’first-look’ rights to develop and publish video games for all new Cartoon Network branded properties targeting Cartoon Network’s core six to eleven year-old audience. The first property that will be licensed by Take-Two under this agreement is Cartoon Network’s hit series, Codename: Kid’s Next Door.
"We are extremely pleased to work with Cartoon Network and form such a significant relationship with an established and well respected children’s entertainment enterprise," said Bill Gross, General Manager of Take-Two Licensing. "Cartoon Network is an ideal partner for Take-Two and we appreciate their commitment to our strategy to expand our product offerings of children’s interactive entertainment. This agreement further solidifies Take-Two’s licensed product business."

"Both Cartoon Network and Take-Two have been successful in creating worldwide entertainment brands," said John Friend, senior vice president of Cartoon Network Enterprises, Cartoon Network’s licensing division. "This partnership will harness the strengths of both companies to build on existing brands and create new ones. Ultimately, we hope to see the simultaneous launch of a new series with a multi-platform video game."

Take-Two Licensing was formed in December 2003 by combining the licensed assets of Take-Two’s publishing subsidiaries with the licensed properties acquired in the TDK Mediactive acquisition. Take-Two Licensing is run by Bill Gross, replacing former TDK Mediactive Chief Executive Officer Vincent Bitetti, who resigned to pursue other opportunities.

Mr. Gross joined Take-Two in February 2003 from Gullane Entertainment where he was Senior Vice President of Brand Strategy. At Gullane, Bill was responsible for all of the company’s brands including Thomas The Tank Engine and Guinness World Records. Previously, Bill was Senior Vice President and General Manager of The Walt Disney Company subsidiary, Jumbo Pictures; and was Vice President for the William Morris Agency.

"We are pleased with the rapid progress Bill and the Take-Two Licensing team have made in establishing important relationships and leveraging Take-Two’s position as a preeminent developer, publisher and distributor of interactive entertainment," concluded Jeff Lapin, Chief Executive Officer of Take-Two Interactive Software.

Warner Bros. Interactive Entertainment is the licensing agent for Cartoon Network’s properties and played a role in structuring this partnership.