[Hawkeye]

Noooo.......

Boomtown Harry Neary (Akeldama) // Friday, August 3rd, 2007 //

Grand Theft Auto IV delayed
Turkey's are safe as Rockstar cancels Christmas until early 2008.




Take-Two has announced it is revising its earnings expectations for the 2007 financial year in the light of today's news of a delay to Grand Theft Auto IV.

The eagerly anticipated game will not now be released until Q2 of fiscal 2008 at the earliest ? which begins February 2008.

Coupled with the Manhunt 2 ban this has lead Take-Two to revise earnings to a net loss per share in the range of $1.25 to $1.35.

"Obviously, we are very disappointed to reduce guidance after having previously reaffirmed it," said Ben Feder, Chief Executive Officer of Take-Two. "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."

"With Grand Theft Auto IV, Rockstar is setting a new standard for next generation video games," Strauss Zelnick, Chairman of Take-Two. "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."

"The new consoles are allowing us to create the Grand Theft Auto game we always dreamed about," Sam Houser, Founder and Executive Producer of Rockstar Games. "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."

Bad news for Rockstar, but also for retailers. I know from my experience in retail how strong a system seller the GTA games can be. Many casual gamers only buy a format once they can play FIFA and GTA. Christmas may not be as rosy as many store owners were hoping for.