LOS ANGELES (CNN/Money) – The CEO of leading software publisher Take Two Interactive software said Thursday he was "disappointed" by lower-than-expected price cuts by Sony.

"Like all publishers, we were looking for a $50 price cut, but Sony wants to maximize its revenue," Jeff Lapin told CNN/Money in an interview at E3, the annual trade show of the video game industry. "I am hopeful that by the end of the year we'll see the $149 price point – but I was disappointed we didn't see a drop to $149 here."

Lapin isn't the first high-profile executive to voice disappointment with the $20 price cut. Wednesday, Activision CEO Bobby Kotick told Reuters Sony (SNE: Research, Estimates) and Microsoft (MSFT: Research, Estimates) should have reduced their console prices to "at least $149, if not $129."

Take Two (TTWO: Research, Estimates) and Sony have a long, successful history together. The publisher's most successful games – "Grand Theft Auto 3" and "Grand Theft Auto: Vice City" – have been only been sold for the PlayStation 2, which has helped drive sales of that console.

But Kaz Hirai, president and COO of Sony Computer Entertainment America, raised eyebrows Tuesday when he announced that the next "GTA" title would only launch exclusively on the PS2 – a phrasing that implied Sony would not hold on to the game exclusively for long.

Lapin declined to offer further clarification. "We were very successful with the PS2 with GTA and GTA:Vice," he said. "We weighed all options and we ... decided that at launch, we would be exclusive to Sony."

The next GTA game is not expected to hit stores until 2004.

Sony shocked the gaming world this week, announcing plans to compete in the handheld marketplace, an area that has been the stomping grounds for Nintendo's GameBoy. Lapin said Take Two will monitor how Sony markets the PSP before determining if it would make software for the device, but its curiosity is piqued.

"Our software would not work on the Nintendo GameBoy," he said. "We've got an older demographic and the content we produce would not work. If Sony's unit is marketed to an older demographic, that would be a tremendous opportunity."

Take Two has been contemplating a bid for the gaming division of Vivendi Universal in recent months. While Lapin would not address that issue directly, he did offer his thoughts on looming industry consolidation.

"I am expecting some amount of M&A and attrition to occur," he said. "When there's an opportunity to talk, Take Two is willing to talk."