New York - Video game publisher Take-Two Interactive (NASD: TTWO) said on Thursday that it has reached an agreement with the Federal Trade Commission (FTC) over the agency's subpoena for information from the company regarding Electronic Arts' (NASD: ERTS) takeover bid.

Take-Two had initially refused to comply with the subpoena for information on EA's bid -- which it has repeatedly rejected -- but has now made a deal with the FTC that "will allow the Company to appropriately limit the scope of its production of information and witnesses," and "should substantially reduce the economic burden on the Company and focus the inquiry in a way that should minimize the distraction to the Company's employees."

The agreement also alleviates the need for a federal court hearing on the company's refusal to comply with the FTC subpoena, which had been scheduled for June 24.

Related Links:
http://snipurl.com/2le0j (Take-Two SEC filing)