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Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced it will push back the console release of Grand Theft Auto: Liberty City Stories until June. This announcement follows statements during the company’s 1st quarter earnings conference call that indicated a late April, 2nd quarter release.

Publishers are all facing the challenges of the console transition, and we continue to believe GTA is a durable and profitable brand. Yet repeated product delays reinforce our concerns that TTWO needs to show dramatic and consistent improvement in execution, a process bound only to get more complex as the next-gen cycle progresses.