Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is having a landmark year. The company published what may be the most successful video game of all time just months ago, and investors seem very pleased about the results. Stock has risen by more than 50% since 2013 began, though the company’s value has been reasonably flat in the last few months.

The company went head to head with one of its more high profile investors this morning, and the move wasn’t met by approval. The company’s stock was down in pre-market trading on Tuesday. Carl Icahn, the infamous activist investors, owned 12.9% of Take-Two Interactive Software, Inc. (NASDAQ:TTWO). His faith in the firm bolstered its returns. He’s no longer involved at the company, however.

Carl Icahn Leaves Take-Two

According to information released by Take-Two Interactive Software, Inc. (NASDAQ:TTWO), the company will buy back Icahn’s entire stake and the three directors he has on the company’s board will resign. The buy is going to cost the company $203.5 million and it said it will use cash to complete the transaction. Icahn has been involved at Take-Two for a long time, and this morning’s sale has clearly come as a shock to some in the market.

Icahn originally disclosed a stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in 2009. Back then the company’s shares were trading for well below $10. At the time Icahn said he saw the company as a potential target for mergers and acquisitions in the video game industry. That never came to pass, but the bet still seems to have been a good one for the activist.

Icahn revealed an increase in his holding of shares to 12.9% toward the end of 2012. Icahn appears to have decided that the launch of GTAV has boosted the company’s value enough for him to sell out of his position. His reputation and the faith that people have in him boosted the company’s stock in the last couple of years. The loss of his influence had the expected effect this morning.

GTAV Release Question Marks

It is clear that GTAV was incredibly successful, but there are question marks about the way the market took the release. The game launched with an online multiplayer element, with its own potential for monetization, but it is unclear what the potential of that project is. Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has not made its intentions for the release of the game on next generation clear.

Perhaps it is the next generation that is scaring Carl Icahn away. The video game industry is unstable and little understood. It has taken the lives of many publishers in recent years. Carl Icahn knows a lot about the industry and the next generation may not be worth playing this early on.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is being forced to play however. The company has revealed that several games for the next generation consoles are currently in the works. Icahn doesn’t want to play the Xbox One or the PS4, it remains to be seen what Take-Two can muster without him.

Disclosure: Author represents that he has no position in any stocks mentioned in this article at the time this article was submitted.