Take2 Interactive chairman Strauss Zelnick is refusing to narrow down GTA IV's release date, saying they won't commit until they are "utterly convinced" that the game is ready. He spoke at a BMO Capital Markets conference:

"It's a fair question given that we weren't able to stick to our firm date the last time. We're going to give a firm date when we are utterly convinced that we have it and that isn't right now.

"We know it's highly anticipated. Right now our view is to put out a high quality title and we're not in the business of disappointing investors."

"I think there was a concern initially when we slipped that we missed the boat in terms of Christmas but I think that concern has been alleviated.

"I think most people see it as okay – hardware penetration is going to grow over Christmas and because this is a must-have title it's probably okay that we're not selling it in the Christmas season.

Zelnick also talked about GTA IV's exclusive episodic content, which will be available for the Xbox 360 version of the game:

"It actually isn't really significant in terms of its contribution in 2008.

"It's something we ought to be doing and my guess is that's where the industry is going. If you believe over time that package goods will be supplemented very much with online downloadable content, and you believe as I do that the future of playing interactive entertainment is networked multiplayer, then there's every reason to believe that downloadable content makes all kinds of sense.

"And eventually if you have a packaged good and you sell upgrades it's a pretty terrific business model for everyone. I think it could be really interesting, but to be clear, it's not in our plans and we're not relying on it for our success."

Source: GamesIndustry.biz