This just in... Take-Two has announced that Grand Theft Auto IV is being delayed until Spring of 2008 due to "additional development time required to complete the title." Read on for further explanations that came with today's announcement as well as links to stories related to this news.

"With Grand Theft Auto IV, Rockstar is setting a new standard for next generation video games," stated Strauss Zelnick, Chairman of Take-Two. "Certain elements of development proved to be more time-intensive than expected, especially given the commitment for a simultaneous release on two very different platforms. We all recognize that perfecting the game is vital and I can assure everyone it will be worth the wait. We owe it to the game's millions of fans, to our dedicated development team, and to our shareholders to make sure that Grand Theft Auto IV is a groundbreaking gaming experience that takes maximum advantage of next generation technology."

"The new consoles are allowing us to create the Grand Theft Auto game we always dreamed about," added Sam Houser, Founder and Executive Producer of Rockstar Games. "Every aspect of the game and its design has been completely transformed. The game is huge and is pushing the hardware platforms to their absolute limits. The top engineers from Sony and Microsoft are working closely with the team in Edinburgh right now, helping us to fully leverage the power of both platforms. As always, our goal is to surpass even the wildest expectations of the game's fans, and to create the ultimate high definition video game experience."

Additional Grand Theft Auto IV Delay Coverage:
http://www.1up.com/do/newsStory?cId=3161715

http://www.1up.com/do/newsStory?cId=3161714

http://www.1up.com/do/newsStory?cId=3161717

http://www.1up.com/do/newsStory?cId=3161716
Stay tuned for more on this story as we get it.

Thanks to http://feeds.feedburner.com/~r/1up/ALLPS3/content/~3/140080421/newsStory for sharing the news with us!