What To Make of the Industry's Urge to Merge on Gamasutra features a roundtable discussion with financial analysts about consolidation in the game industry, arguably highlighted by a tidbit posted separately here where Wedbush Morgan's Michael Pachter says that blame for EA's (so far) futile attempts at taking over Take-Two Interactive can be laid at Take-Two's feet:

As far as EA/Take-Two are concerned, Take-Two has progressively weakened over the last seven years, in spite of the phenomenal success of the Grand Theft Auto franchise.

The company has had six CEOs in seven years, and the frequent change at the top has cost it a lot of continuity.

It made several bad decisions (several failed licenses: 24, The Da Vinci Code) made a disastrous foray into sports, and has continued to chase cool new franchises (BioShock, Borderlands, LA Noire) while letting older franchises (Max Payne, Red Dead Revolver) fade into oblivion.