EON

Boston (EON) – Take-Two Interactive Software has delayed its most important upcoming game Grand Theft Auto IV until the second quarter of Take-Two’s fiscal 2008.

This means that Grand Theft Auto IV is going to miss its big holiday sales as gamers have been clamoring to get their hands on this title for months now.

This sent shares down 17% as the company stated that it would post a full-year loss.

Ben Feder who is the chief executive of the new management team at the company stated that “We are very disappointed to reduce guidance after having previously reaffirmed it.”

This will be a big blow to Microsoft and Sony as it was expected that the game would help boost sales of both the Xbox 360 and PlayStation 3 this holiday season.