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BioShock 2 delayed to fiscal 2010

Monday, 13th July 2009 21:45 GMT By Nathan Grayson

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Update: During today’s Take-Two conference call, the publisher clarified BioShock 2′s new release date slightly, saying that the game will launch within the first half of 2010.

BioShock 2, originally scheduled for an early November release, has been delayed. As a result, Take-Two has announced that it’s significantly reducing its fiscal guidance.

Now floating in the nebulous purgatory of Take-Two’s fiscal 2010, a concrete release date for BioShock 2 has not been set. Fiscal 2010 begins in November, though, so the delay’s probably nothing to sneeze at.

“We recognize that our revised outlook for the balance of fiscal year 2009, due to both internal and external factors, is a disappointment. That said, we concluded that moving the release of BioShock 2 into fiscal year 2010 was the right decision for the product. We believe the result will be a more compelling consumer experience and a better performing product in the marketplace,” said Strauss Zelnick, Chairman of Take-Two.

See the full press release after the break.

Launch of BioShock® 2 Now Planned for Fiscal 2010

Conference Call Set for 4:45 pm ET Today

New York, NY – July 13, 2009 – Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced revised revenue and earnings guidance for fiscal 2009.

Take-Two is reducing its fiscal 2009 guidance to reflect several factors, most significant of which is the movement of the launch of BioShock 2 from the fourth quarter of fiscal 2009 to fiscal 2010, in order to provide additional development time for the title. Additionally, Take-Two is updating third quarter and fourth quarter fiscal 2009 guidance to reflect reduced sales of catalog products and lower than anticipated initial retailer orders of new releases, due to a retail environment that is proving even more challenging than the Company’s previous expectations.

Strauss Zelnick, Chairman of Take-Two, stated, “We recognize that our revised outlook for the balance of fiscal year 2009, due to both internal and external factors, is a disappointment. That said, we concluded that moving the release of BioShock 2 into fiscal year 2010 was the right decision for the product. We believe the result will be a more compelling consumer experience and a better performing product in the marketplace. At the same time, near term retail conditions have proven to be more challenging for our business than the assumptions built into our prior outlook. We remain confident in the long term potential for Take-Two’s business, and our ability to capitalize on that potential through our exceptional creative talent and solid balance sheet.”

Ben Feder, Chief Executive Officer of Take-Two, commented, “The decision to shift a release date is never an easy one, especially with a product as highly anticipated as BioShock 2. We felt that it was essential to invest the additional time to ensure that this title will deliver what its fans expect and deserve. As a result, we will now be launching sequels to several of our strongest franchises – including BioShock 2, Mafia II, Max Payne 3 and Red Dead Redemption – during the next fiscal year. These titles will anchor our lineup for fiscal 2010, and along with other products planned for next year, provide a platform for enhanced financial performance in what we hope will be an improved retail environment.”

Based on preliminary estimates, the Company is providing revised guidance as follows:

(a) The Company’s stock-based compensation expense for the third and fourth quarters and fiscal year 2009 includes the cost of approximately 2 million stock options and 1.5 million shares previously issued to ZelnickMedia that are subject to variable accounting. Actual expense to be recorded in connection with these options and shares is dependent upon several factors, including future changes in Take-Two’s stock price.

Key assumptions and dependencies underlying the Company’s guidance include timely delivery of titles; continued consumer acceptance of the Xbox 360® video game and entertainment system from Microsoft, PLAYSTATION®3 computer entertainment system and Wii™ system from Nintendo; and the ability to develop and publish products that capture market share for these current generation systems while continuing to leverage opportunities on certain prior generation platforms.

Conference Call

Take-Two will host a 20-minute conference call today at 4:45 pm Eastern Time to discuss this news. The call can be accessed by dialing (877) 407-0984 or (201) 689-8577. A live, listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a global developer, marketer, distributor and publisher of interactive entertainment software games for the PC, PLAYSTATION®3 and PlayStation®2 computer entertainment systems, PSP® (PlayStation®Portable) system, Xbox 360® video game and entertainment system from Microsoft, Wii™ and Nintendo DS™. The Company publishes and develops products through its wholly owned labels Rockstar Games and 2K, which publishes its titles under 2K Games, 2K Sports and 2K Play. Take-Two also distributes software, hardware and accessories in North America through its Jack of All Games subsidiary. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at www.take2games.com.

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15 Comments

  1. JesteR

    Yeah lets delay all games to march next year…..

    #1 6 years ago
  2. Patrick Garratt

    That’s significantly less shocking than what’s coming out of that hand.

    #2 6 years ago
  3. No_PUDding

    Haha, scary.

    We’ve had a sudden jump-ship this fall.

    Red Dead, Heavy Rain, MAG, Splinter Cell, Bioshock 2… Who’s next?

    #3 6 years ago
  4. Hunam

    Q1 2010 seems more busy than Christmas this year.

    #4 6 years ago
  5. Anders

    Totally ruined my evening. Man…

    #5 6 years ago
  6. Dr.Ghettoblaster

    And Fallout 3 DLC for PS3 delayed until September…..very surprisingly, this is one of the the only sites that hasn’t posted that info yet…

    #6 6 years ago
  7. Razor

    Bah, it looks samey anyway.

    #7 6 years ago
  8. No_PUDding

    It does Hunam.

    I expect to see quite a few pushed back from fiscal 2009 even.

    Hopefully we’ll get games right into summer, spread evenly.

    Hopefully I will be somewhere other than this shitty country by then.

    #8 6 years ago
  9. Mike

    Bollocks.

    #9 6 years ago
  10. fearmonkey

    I’m not bummed about it getting pushed back. If they can make it better by giving it extra time, im all for it. Christmas has such a glut of titles anyway, i’m happy to see some being pushed to later dates.
    Who wants to go against Infinity Ward’s Modern warfare 2 anyways?
    Now I have to hope that Risen, and Two Worlds 2 releases in 2009. I need at least one awesome RPG for the consoles in 2009.

    #10 6 years ago
  11. Anders

    I’d put my money on Dragon Age: Origins if I were you, fearmonkey. Being me, I am pretty sure that at least I will.

    #11 6 years ago
  12. Hunam

    What’s for Xmas then? Halo, CoD and Dragon Age? Everything else seems pushed to 2010.

    #12 6 years ago
  13. hitnrun

    Just as well. This Christmas was starting to look like a game of chicken played on railroad tracks…by freight trains.

    Just a glance at my own list shows Halo, Alpha Protocol, Left 4 Dead 2, Bayonetta, Call of Duty, BioShock 2, Assassin’s Creed 2, Dragon Age, with Arkham Asylum as a warm-up act. Your own lists will vary of course.

    The other bonus to these delays is that, once sprung into the new year, the games don’t have to gravitate around a 3 week period and can come out in their own time throughout what’s normally “Michael Pachter news season,” aka winter and early spring.

    #13 6 years ago
  14. Blerk

    I don’t mind about this, actually. All the ‘we’re throwing another team at it’ stuff was making me fear for its future. Perhaps they’re going to actually do it properly now.

    #14 6 years ago
  15. Doc Robotnik

    It’s being put back because it’s not good enough to be released this year. So, like we all feared, giving a decent license to an average development team is STILL not a good idea.

    Can you hear me Activision? Stop giving CoD to Treyarch!

    #15 6 years ago

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