Take Two just announced the highly anticipated (and that's being cautious) Grand Theft Auto IV will be delayed from its originally scheduled October release date until the second fiscal quarter of 2008, or between February and April of '08. Though no direct cause for the delay was cited, Take-Two Chairman Strauss Zelnick said "certain elements of development proved to be more time-intensive than expected."
Additionally, due to the outstanding ratings problems (and surprising no one) they've also announced that Manhunt 2 would miss its planned release this fiscal year. As a result of these setbacks, they're expecting revenue of $950 million to $1 billion for the fiscal year ending Oct. 31; in June, they announced expected revenue of $1.2 billion to $1.25 billion for the year.
The bad news: There goes Microsoft's holiday hat trick. The good news: More time to play the onslaught of great games this holiday season.