Grand Theft Auto IV, initially slated for an October 2007 release, is reportedly experiencing delays in the game development process. Although Take-Two's vague comments make it tempting to lay the blame on the newer hardware, the company’s chairman declined to say if development for one platform was proving trickier than the other:
"We don't think it's helpful or beneficial to go into what the tech issues are. We are pushing the envelope on both platforms." Take-Two’s chairman Strauss Zelnick said.
The delay spells disappointment for both Microsoft’s Xbox 360 and Sony’s PlayStation 3, as they were expecting holiday sales of GTA IV to be a driving factor in pushing up sales of their Gen-Next consoles. Following the announcement, shares of Take-Two Interactive also took a hit, falling over 18% to $13.75 in afterhours trading Thursday evening.