money digest


Take-Two uncovers backdating

Take-Two Interactive Software Inc., publisher of the "Grand Theft Auto" video games, said Monday that its investigation uncovered stock-option irregularities during the tenure of former chairman and CEO Ryan Brant. In a regulatory filing, Take-Two said that from April 1997-August 2003, Brant engaged in a "pattern and practice of backdating options" with a "significant" number of option grants affected. Take-Two said it found no backdating issues after August 2003 and that no current executives appeared to have engaged in questionable conduct. Brant was Take-Two's CEO until February 2001 and chairman until March 2004.

AOL Europe shuffles executives

Time Warner Inc.'s AOL unit said Monday that AOL Europe chief Philip Rowley will resign and new international and European region chiefs have been appointed. AOL named Maneesh Dhir, who was a senior vp in AOL's India region, as executive vp overseeing international operations. Dana Dunne, previously president of Belgium telecommunications firm Belgacom, will serve as head of AOL Europe.