Take-Two Interactive Enters New Long-Term Xbox Publisher License Agreement with Microsoft

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) – Form 8-K Overview

Summary of Item 1.01: Entry into a Material Definitive Agreement

On September 28, 2026, Take-Two Interactive Software, Inc. entered into a new long-term XBOX Publisher License Agreement with Microsoft Corporation, effective retroactively to September 17, 2026. This comprehensive agreement supersedes and replaces all prior Xbox publisher license agreements between the two companies.

Key Terms and Commercial Provisions

1. Scope of Rights:

   • Grants Take-Two the authorization to develop, publish, manufacture, market, advertise, distribute, and sell Xbox-compatible products across all Xbox hardware platforms and devices.

2. Revenue and Payment Structure:

   • Digital Distribution: Microsoft will pay Take-Two the applicable wholesale price and/or an agreed revenue share for digital titles and downloadable content distributed via Microsoft's storefronts.
   • Physical Media: Microsoft will charge Take-Two standard fees and royalties for physical media manufactured on behalf of Take-Two.

3. Content Approval and Oversight:

   • Microsoft retains standard platform holder approval rights, including the right to review, evaluate, and approve game concepts, final builds, packaging, and marketing materials that display Microsoft trademarks.

4. Termination and Sell-Off Provisions:

   • Either party may terminate the agreement under material breach or insolvency.
   • Take-Two retains customary post-termination/expiration sell-off rights for existing inventory.

Market & Strategic Context

This agreement locks in long-term commercial terms and platform distribution rights for Take-Two's upcoming product pipeline across Microsoft's Xbox ecosystem. The complete text of the agreement will be filed as an exhibit to Take-Two's Form 10-Q for the quarterly period ending September 30, 2026.