Crap! GTAIV delayed to 2008!

[Gambit]

August 2, 2007

Take-Two Interactive Software, Inc. Provides Financial Update
Launch of Grand Theft Auto IV Now Planned for Fiscal 2008

Conference Call Set for 5:30 pm ET Today

New York, NY - Two Interactive Software, Inc. (NASDAQ:TTWO) today announced revised revenue and earnings guidance for fiscal 2007.

Take-Two is reducing its fiscal 2007 guidance primarily to reflect the movement of the launch of Grand Theft Auto IV for the PLAYSTATION®3 computer entertainment system and the Xbox 360™ video game and entertainment system from the fourth quarter of fiscal 2007 to fiscal 2008, due to additional development time required to complete the title. The title is now planned for release in the Company's second quarter of fiscal 2008. Additionally, Take-Two is updating third quarter and fiscal year 2007 guidance to reflect the movement of Manhunt 2 for the PlayStation®2 computer entertainment system, PSP® (PlayStation®Portable) system and the Wii™ out of the third quarter and the fiscal year.

Take-Two's revised guidance is as follows:

* For the fiscal year ending October 31, 2007, revenue in the range of $950 million to $1.0 billion with a net loss per share in the range of $1.25 to $1.35, excluding stock-based compensation expense of $0.25 per share; and excluding approximately $0.61 per share of charges related to the Company's reorganization expenses (reorganization expenses include $0.03 per share of stock-based compensation expense that is included in the $0.25 per share stock-based compensation expense number above), restructuring initiatives, legal expenses and other professional fees associated with the investigation of stock option grants and responses to the New York County District Attorney's subpoenas, and expenses related to other unusual legal matters. GAAP net loss per share for fiscal 2007 including all charges noted above is expected to be in the range of $2.10 to $2.20. Fiscal 2007 estimates reflect no tax benefit.

* For the third quarter ended July 31, 2007, revenue in the range of $195 million to $205 million, with a net loss per share in the range of $0.65 to $0.70, excluding stock-based compensation expense of $0.05 per share; and excluding approximately $0.15 per share of charges related to the Company's reorganization expenses, restructuring initiatives, professional fees associated with responses to the New York County District Attorney's subpoenas, and expenses related to other unusual legal matters. GAAP net loss per share for the third quarter including all charges noted above is expected to be in the range of $0.85 to $0.90.



* For the fourth quarter ending October 31, 2007, net revenue in the range of $275 million to $300 million, with a net loss per share in the range of $0.05 to $0.10, excluding stock-based compensation expense of $0.08 per share; and excluding approximately $0.08 per share of charges related to the Company's reorganization expenses, restructuring initiatives, professional fees associated with responses to the New York County District Attorney's subpoenas, and expenses related to other unusual legal matters. GAAP net loss per share for the fourth quarter including all charges noted above is expected to be in the range of $0.20 to $0.25.

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."

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."

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."

Conference Call

Take-Two will host a 20-minute conference call today at 5:30 pm Eastern Time to discuss this news. The call can be accessed by dialing (877) 407-0984 or (201) 689-8577. A live listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.

Product Pipeline

Following is Take-Two's updated release schedule for the remainder of fiscal 2007:

Title Platform Expected Release (Fiscal Period)
------------------ ------------------ --------------------------------

BioShock Xbox 360, PC Fourth quarter 2007
Carnival Games Wii Fourth quarter 2007
Table Tennis Wii Fourth quarter 2007
Elder Scrolls IV:
Oblivion (GOTY Xbox 360, PC Fourth quarter 2007
edition)
NBA 2K8 Xbox 360, PS3, PS2 Fourth quarter 2007
NHL 2K8 Xbox 360, PS3, PS2 Fourth quarter 2007

Take-Two's product line up announced to date for fiscal 2008 includes the following titles:

Title Platform
----------------------------------------------- ----------------------

Beaterator PSP
Bully: Scholarship Edition Xbox 360, Wii
College Hoops 2K8 Xbox 360, PS3, PS2
Grand Theft Auto IV Xbox 360, PS3
Grand Theft Auto IV - Episodic Content Xbox 360
L.A. Noire PS3
Midnight Club: Los Angeles Xbox 360, PS3
Major League Baseball 2K8 Multiple Platforms
NBA 2K9 Multiple Platforms
NHL 2K9 Multiple Platforms
Sid Meier's Civilization Revolution Xbox 360, PS2, DS, Wii
Top Spin 3 Xbox 360, PS3

http://ir.take2games.com/ReleaseDetail.cfm?ReleaseID=258238

[Miktar]

Okay, am I missing the part that's supposed to make me go "holycrap", or something? I don't get why the title of the thread is what it is. :P

[Gambit]

Well I really wanted to play GTA IV this year! (The title might have been a bit to passionate, I agree but I was disappointed.)

[Miktar]

Ooooh. You're right. I didn't notice that.

Dang. So was I.

[Chevron]

I didn't notice that.


It was the first line in the first major paragraph. What's up Miktar? I thought you like reading. :)

[Miktar]

It was the first line in the first major paragraph. What's up Miktar? I thought you like reading. :)

I had at the time just gotten into work, still sleepy, and before coffee. Don't be a ****.

[Azimuth]

I must confess, I totally lost interest in GTA after its second iteration (which I still play). I'm just not into the gangsta thing. So colour me unmoved.

[GeometriX]

Normally, I hate the whole "gangsta fo' life" scene, I think it's the very essence of retarded, but for some reason - San Andreas just kicked so much ass. It's a damn awesome game, just no other way to describe it.

So I'm totally hyped for GTA IV. Pity about the release being pushed into next year, but hey, if that's what it takes to make another show-stopper, then I'm down with that.

[GeometriX]

"Has such strong hands!"?

I'm touched :P

[DiceAir]

Well I think it's better that they delay the game rather than brining out a crappy game

[Ruandre]

I'm fairly hyped-up, I mean, there's always so much to do in GTA
and it's the kind of game one can easily pick up for a quick burst of fun.

I must confess, I totally lost interest in GTA after its second iteration (which I still play).Um, meaning GTA2 or Vice City?

I loved Vice City, it had better characters and better radio shows.
Then again, there's just so much more to do in San Andreas.

Anyhow, I'm not too bothered with the delay,
it gives them more time to iron out the kinks.

[PloPshoP]

I think Azi meant GTA 2, that and the original GTA are the most 'un-gangsta' titles in the series. I also thoroughly enjoyed GTA2 and like Geometrix, I also find the whole "gangsta life" thing retarded, but GTA: SA simply rocked.

I'm hoping that the delay is being caused by a secret port to pc...yeah right.

[.dB]

Yeah, the Gangsta thing was really lame. We need more generic plots revolving around aliens. OR a GTA set in an alien setting. Hijacking UFO's ftw.

Also, I can also use the word retarded. Look,

Retarded retarded retarded.

GTA:SA was awesome. Gangster theme and all.

[PloPshoP]

And so the use of inverted commas has been ignored.

[.dB]

kk.

Hopefully someone who saw the previous thread/post(s) on the topic comes in and gets the humour, instead of taking obvious trolling as me arming the the batmobile.

****yeah.

[H1TMAN]

I loved the the last two GTA games. The whole "gangsta life" , is what the game is all about. Look at the name GTA = grand theft auto . I dont understand why people dont enjoy this type of game?. Anyway I cant wait for the next GTA , its going to be the best by far.

[ironwolf]

Ah well **** happens...ill just wait.

[Gambit]

Rumour:

PS3 GTA IV "Unplayable"

Last week saw the shock delay of Grand Theft Auto IV, one industry analyst suggested this was due to the fact the game was being more difficult to develop for the PS3.

This interpretation of the situation put forward by industry Analyst Michael Pachter was quickly denied by Take-Two's Strauss Zelnick in a conference call, claiming that the challenge came from working on two relatively new platforms simultaneously.

Evidence to the contrary consists of the fact that Rockstar have already developed and released R* Presents Table Tennis on the 360 and that Peter Moore revealed all GTA IV footage we've witnessed so far has been running on a 360, not a PS3.

Further news has since come to light and one developer currently working on Grand Theft Auto IV has confirmed to BXB that the delay is due to development problems around the PS3 version and that the PS3 game is currently “unplayable”.

He told us: “The game is running fine on 360 and is finished, they just can't release it because the PS3 version is unplayable.” He then suggested that the Xbox 360 version of the game is actually much better, possibly because of more content being available.

Certainly, the delay of GTA IV is bad news for everyone involved and despite trying to put a positive spin on this delay, it does seem increasingly true that the delay is down to Sony's infamously difficult to develop for consoles.

A rumour which rubs a pinch of salt into Sony's wounds.
By Mike Rossell

http://www.britxbox.co.uk/index.htm?rssnewsid=801921765

Personally I don't believe this is for real, but who knows.

More rumours:

Yesterday, According to the latest Cheat Code Central Podcast, they mention that Rockstar has gone Sony Exclusive, and that their upcoming titles other than the ones already in production, will be some sort of a PS3 exclusive.

Upon further investigation into the issue and listening to the podcast more than 10 times, we have posted a transcript below which shows the exact statements that were made in the podcast.

Person 1: Apparently Rockstar is going to be PS3 exclusive from now on. So I remember that you guys were looking for those exclusive games, well you might just get them!

Person 2: Nice! Did they mention any titles in their announcement?

Person 1: Uhh, not any specific titles. They mention Grand Theft Auto but they didn’t mention the current one because we all know GTA IV is going to both, but I guess maybe future titles that are in the works are going to be just PS3?

Person 2: Ooh, that could be interesting.

Person 3: Heh-heh, let’s just hope it’s not Rockstar Presents Water Polo.

Person 1: Nooooooooo!

As you can see from the above posted transcript form the podcast, the people who claimed Rockstar is going PS3 exclusive had sources listed nor was there anything concrete mentioned in the podcast.

We believe this is a case of misinformation which was deprived from Sony’s announcement a few weeks ago that Rockstar was developing an exclusive title for the PS3 only.

[fool3]

Well I really wanted to play GTA IV this year! (The title might have been a bit to passionate, I agree but I was disappointed.)

I allso really want to play it but like someone else said, if it takes that long to make an awesome game then i'm down with that!!

:)

[Domanskip]

Im really worried that GTA4 will loose a lot of the stuff that made the old games good. Just the fact that it's taking place in a city instead of a county or w/e is disappointing. Ah...riding off Mt Chiliad on a motor bike over and over and over....*wistful sigh*

[UncleSalie]

Now, I am just speculating of course, but I would imagine that GTA IV's delay is to prevent the sales clashing with Halo 3.
It could be any number of reasons, but I'm voting for that.

[ioiiooio]

I'm with domanskip on this one, the giant world of GTA:SA just so totally did it for me. But I feel it's still gonna rock none the less. I'm bummed it looks like there wont be a PC version.

[ioiiooio]

I hope they have the building to building ramps like in Gta Vice City.

[RossI RSA]

Well I think it's better that they delay the game rather than brining out a crappy game

I couldn't agree more

[UncleSalie]

Just a note for those of you who haven't done any actual research on GTA IV:
The world is smaller so that there's a larger focus on interaction between the player and the world and that there won't be those endless 'dead zones' which essentially waste a lot of space as there isn't actually anything for the player to do in those areas except look and screw around.
One of the developers behind the game has even gone so far as to claim that in GTA IV it should take a player about an hour to get from one end of the city to the other.
If you have any questions on that, don't ask me, go and find out for yourself.