NEWS - Monday, June 4, 2007

Pachter: Predicts Delay for GTA IV

Currently, GTA IV is slated to release simultaneously on Xbox 360 and PlayStation 3 on October 16, just before the end of the fiscal year. There’s also the Halo 3 factor that Take-Two could take into consideration. “We believe that a two-week delay would provide a reasonable gap between the launch of Halo 3 and the launch of GTA IV, and would actually help sales of both games,” wrote Pachter. Pachter even said that there would be advantages to launching the $90 collector’s edition GTA IV SKU on the originally planned date. “…A delay of the ‘normal’ SKU for GTA IV by two or three weeks could allow Take-Two to maximize revenues from the $89.99 Collector’s Edition of the game by shipping that SKU on October 17, and to increase overall profitability,” he said. Pachter said that he thinks the company’s new management has what it takes to turn the ailing business around, but investors could be getting ahead of themselves. “...We think that the turnaround will take more than a year to complete,” he added. “…The company has a cadre of fiercely loyal shareholders, who apparently believe that there is hidden value in the stock that can be unlocked at some future date.” He echoed previous expectations that the publisher would soon be closing studios in order to get back on track. “We also think that the new management will take steps to cut costs as soon as practicable, resulting in studio closures and charge-offs for games in development,” Pachter said. Pachter’s speculation comes just before Take-Two’s scheduled quarterly conference call on June 11.


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