Grand Theft Auto IV Gets Delayed

Grand Theft Auto IV is a big game for Take Two, so if the game were to be delayed, it would likely effect their projected earnings a lot. Unfortunately this is exactly what has happened.

The launch of GTA IV for the Xbox 360 and PS3 has been moved to the second fiscal quarter of 2008 and is apparently "due to additional development time required to complete the title." So no GTA these holidays! As a result Take Two are also going to miss their target revenue and earnings for the fiscal year.

Strauss Zelnick, Chairman of Take-Two, stated, "With Grand Theft Auto IV, Rockstar is setting a new standard for next generation video games. Certain elements of development proved to be more time-intensive than expected, especially given the commitment for a simultaneous release on two very different platforms. We all recognize that perfecting the game is vital and I can assure everyone it will be worth the wait. We owe it to the game's millions of fans, to our dedicated development team, and to our shareholders to make sure that Grand Theft Auto IV is a groundbreaking gaming experience that takes maximum advantage of next generation technology."

Ben Feder, Chief Executive Officer of Take-Two, commented, "Obviously, we are very disappointed to reduce guidance after having previously reaffirmed it. Other than a matter of timing, the movement of Grand Theft Auto IV does not compromise Take-Two in any way. We are in sound financial condition and have a great product line up. Grand Theft Auto IV is going to be the defining next generation video game action adventure."

Sam Houser, Founder and Executive Producer of Rockstar Games, added, "The new consoles are allowing us to create the Grand Theft Auto game we always dreamed about. Every aspect of the game and its design has been completely transformed. The game is huge and is pushing the hardware platforms to their absolute limits. The top engineers from Sony and Microsoft are working closely with the team in Edinburgh right now, helping us to fully leverage the power of both platforms. As always, our goal is to surpass even the wildest expectations of the game's fans, and to create the ultimate high definition video game experience."