Gamers everywhere were disappointed to learn of the Grand Theft Auto IV delay – initially scheduled for October 16, 2007, it was pushed into Q2 2008 earlier this year – but Take-Two may be suffering more than the gamers. According to a recent report from GamePro and The Street, it seems the publisher is in a race against time…and GTAIV can't release fast enough.
For a little while now, we've been seeing evidence that Take-Two is stumbling a bit, and now, they may actually run out of both cash and credit reserves as early as January or February 2008. With GTAIV loosely scheduled for a spring release, the company may be struggling to keep their head above water for several months. At this point, an astounding 32% of the company's stock is outstanding, which means investors aren't putting a whole lot of faith in Take-Two. There's no doubt it's a dicey situation for any corporation, but hey, we're talking about GTA, here. Provided there are no more delays and the game turns out as good as it should, Take-Two can emerge from this crisis smelling like a rose.
Analyst Michael Pachter expects GTAIV to sell 8.5 million copies by October 2008 (again, this is assuming the game does make it out around April), and that would be plenty to turn the tide. Take-Two Interactive is still the 6th-biggest publisher out there behind Nintendo, EA, Activision, Ubisoft and THQ, though, so it's not all doom and gloom. But let's just hope GTAIV stays on track for the estimated release window, because if it doesn't…well, it's a slippery slope that only gets steeper.
Related Game(s): Grand Theft Auto IV