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‘Grand Theft Auto' IV Delayed

8 Aug, 2007 By: Chris Tribbey

Grand Theft Auto IV, the latest in one of the most popular — and most violent — franchise video games available for the Xbox and PlayStation platforms, from Take-Two Interactive Software Inc., will not be available this holiday season. Instead it has been pushed back to the second quarter of 2008.

“We're disappointed to announce the decision … to delay the launch of Grand Theft Auto IV until the second quarter of next year,” said Take-Two chairman Strauss Zelnick in an investors' conference call. “But it would have been even more disappointing, and we think, a real disservice to both our consumers and our shareholders, to deliver a game that was anything less than a full expression of the ‘Grand Theft Auto' franchise at its best.”

Zelnick said making the best game possible for both platforms has proven challenging, and the development team needed longer to deliver the goods.

“It's important to note that the install base of the next-gen hardware should be significantly larger by the time of our new launch date,” he said.

Shares of Take-Two had plummeted nearly 20% shortly after the news Aug. 2, and remained down to $13.74 in after-hours trading Aug. 8.

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