Wow, well this was unexpected. Reuters news service is reporting that GTA IV has been delayed until the second quarter of 2008 in order to polish up the title. After this announcement, Take-Two shares dropped fairly sharply as the market reacted to the significance of the news. Because GTA IV won't be coming out this year, Take-Two had to change their financial goals from a profit to a loss for this year -- never something investors like.

The delay of one of the most significant games of the year will also have interesting repercussions across the industry as a whole. Though the fall/winter release schedule is pretty darn packed with titles already, GTA IV was easily one of the biggest and most anticipated games of the holiday season. The sudden hole it leaves in the October schedule will allow for some smaller titles to get more attention than they would have beforehand, which will make other game publishers quite happy. How about you guys? Would you prefer rough GTA IV in October, or a more polished GTA experience in 6-8 months?

[Thanks Glenn!]

This article was originally published on Joystiq.

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