Take Two announced that the release of GRAND THEFT AUTO IV has been moved from Oct. 2007 to March or April of 2008, VARIETY reports. Take Two chairman Strauss Zelnick stated technical issues were to blame for the delay.
The move caused the company to revise its fiscal year estimate from $1.25 billion to $950 million-$1 billion. Previously, the company believed it would break even for the year, but now anticipates a loss of up to $1.35 per share. The disappointing news lead investors to drop Take Two stock, creating a 19% fall in its pricetag.