Electronic Arts (NASDAQ: ERTS) is spending about $167 million for a 15% share in The9 (NASDAQ: NCTY), one of China's largest online game operators. In March, Electronic Arts bought 19% of NeoWiz, a Korean company, for about $105 million.

While these moves into Asia are part of a strategic initiative to develop a stronger distribution network in the region, it got me wondering: If Electronic Arts is in a buying mood, what about Take-Two Interactive Software Inc. (NASDAQ: TTWO)? The company has been plagued by just about every scandal imaginable: options backdating, overstated earnings, porn in video games, etc. But after major institutional investors ousted the company's slimy management, things could be in store for a turnaround. and investors who are fed-up with the company's underperformance may want it to explore a sale.

The prices paid for The9 and NeoWiz might make Take-Two look inexpensive, with its market cap of $1.4 billion, and strong brands, mainly the Grand Theft Auto series (I don't normally play video games, but Grand Theft Auto is amazing).

The shares were up almost 3% today, so maybe investors think Take-Two is a takeover candidate, too. I wouldn't be buying the stock here, given all the problems that are still dogging the company, but there's no arguing that its brands have a lot of value.