WHEN: Today, Friday, August 26, 2022
WHERE: CNBC’s “Squawk Box
Following is the unofficial transcript of breaking news from CNBC’s David Faber on CNBC’s “Squawk Box” (M-F, 6AM-9AM ET) today, Friday, August 26th. Following is a link to the video on CNBC.com:
All references must be sourced to CNBC.
JOE KERNEN: We showed you shares of Electronic Arts in the last half hour. Stock was trading up on a Swedish media report, Swedish report that media report that said Amazon.com was set to announce an offer to buy the video EA company but David Faber has, okay your eyes are on this. Right?
DAVID FABER: No, I’m on you. Yeah, my eyes are on you.
KERNEN: We used to look at each other a lot.
FABER: Well, you know I review Good Luck Have Fun, the very well-known Swedish gaming report every morning as you know.
KERNEN: And you saw this before, you saw this before—
FABER: I’m always looking for the latest takeover stories there. That’s what my go to. I thought it was yours too Joe. All your eyes are usually on that.
KERNEN: I had seen this. I just I wasn’t sure of the veracity of it so I waited for the stock to start trading, no, what do you think David? That’s a big move in the stock for total—
FABER: It is. It is.
KERNEN: For no smoke, where there’s smoke, there’s fire. You don’t think there’s any fire? You—
FABER: Well, it just came down a lot I guess because of the tease. Listen, I mean I have talked to some people who would actually know if there was something going on and they say there’s nothing going on. These are people who would be involved, who in fact, were involved when our parent company Joe was talking to Electronic Arts. That was real. It was some time ago. It didn’t advance after a while in part because our parent company entertaining this idea of spinning off NBCU into EA, having the EA gentleman run the combined company but wanted voting control so that didn’t happen. EA definitely has been out there a bit in the past at least considering what it might do. You could imagine Amazon might have some interest but as for this Swedish report from this Good Luck Have Fun is the name of the of the source. No, this is not going to, not going to happen today is from what I’m hearing unless the people who’ve been involved previously have no idea.
