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.
"We're disappointed to announce the decision that we made to delay GTV IV. Clearly we're not happy. It would've been even more disappointing to deliver anything that was anything less than a full expression of the GTA series at its best...The reason that it's being delayed is almost strictly...technical challenges."