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Riccitiello: GTA IV dev is "essentially complete"

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In an ongoing conference call, EA CEO John Riccitiello has just said that, "We expect the development of GTA is essentially complete," explaining that the company's move on Take-Two's business will not impact the release of the "important" game.

He said, "This is a very good deal for Take-Two shareholders," while detailing that Take-Two has an uncertain future because of legal, scale and operative issue.

"The time is right to do the deal now," he said, adding, "It represents certainly for Take-Two's investors."

Riccitiello is about to take questions. The script from the call is to be posted on EA's super-special Take-Two takeover site once the call's finished.

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