It looks like the end may be near for members of Take-Two's Board of Directors. Earlier this month, we reported that the company was postponing its usual shareholders' meeting for this quarter, in hopes of finding a way to curtail a potential takeover by a number of shareholders unhappy with the Board's performance, particularly the performance of current CEO Paul Eibeler. The announcement had rescheduled the meeting by one week in order to give the Board time to "evaluate alternative courses of actions". One of the more dramatic options mentioned was the potential buyout of Take-Two and its subsidiaries. Now it looks like the Board will face the music, as the word has come down from on high that it has been unable to find any suitable buyers or alternative actions.

In a statement on Take-Two's corporate website, the company announced that, "The Board of Directors now believes that it is unlikely to present alternative courses of action prior to the annual meeting on March 29th. The Company is continuing to have discussions with representatives of the shareholder group."

So, it looks like the new meeting will still take place this Thursday, barring any last minute surprises. Will the current Take-Two Board of Directors survive the coming storm, or will we see a new sheriff in town at the Rockstar ranch? We'll be following the situation and keep you posted on the end result.