After Burner: Black Falcon is the first arcade-style flight combat title for the PSP, combining intensive air combat with explosive gameplay, whilst allowing players to relive the experience of the classic After Burner arcade game.

Yesterday Take-Two revealed it was postponing the previously scheduled annual shareholders meeting to explore its options, one being a possible sale of the entire company. Today word has reached us through the grapevine by means of an inside source at Rockstar Vancouver, that "the buzz" in the hallways is that Microsoft might have put in a bid or expressed interest in purchasing the ailing publisher/developer. While this is a mere rumor, albeit from a reliable source, it is to be taken with a grain of salt. Just imagine the ramifications....

UPDATE: As rumors go, debunked by MGS' Vice President Shane Kim...

NetDevil's Warmonger - Operation: Downtown Destruction is an apocalyptic FPS, built around the AGEIA PhysX processor, enabling unique, piece-by-piece destruction system and is designed to deliver stunning fluid and cloth-based effects unlike anything seen before.

After a failed attempt to get the Halo picture off the ground with Peter Jackson as the executive producer, Microsoft has been shopping around the Gears of War franchise to movie studios, and it seems New Line Cinema has managed to reel it in. Stuart Beattie, known for Collateral and Derailed, will be writing, and it will be produced by Temple Hill's Marty Bowen/Wyck Godfrey. Gears of War is an action game where hero Marcus Fenix is rescued from prison by a small group of elite soldiers to save planet Sera from an invasion of aliens known as the Locust.

Another day, another batch of games shipped to stores. Instead of giving them all their own posts, we grouped them, and so far there are announcements for:

• Armored Core 4 (PS3/X360)
• Blazing Angels: Squadrons of WWII (Wii)
• Disney's Herbie: Rescue Rally (NDS)
• Dragon Ball Z Shin Budokai: Another Road (PSP)
• Earth Defense Force 2017 (Xbox 360)
• Frontline: Fields of Thunder (PC)
• Full Auto 2: Battlelines (PSP)
• Genesis Rising: The Universal Crusade (PC)
• Kororinpa: Marble Mania (Wii)
• Lost in Blue 2 (NDS)
• Puzzle Quest: Challenge of the Warlords (NDS/PSP)
• Shining Force EXA (PS2)
• S.T.A.L.K.E.R.: Shadow of Chernobyl (PC)
• Steel Horizon (NDS)
• TMNT (ALL)
• UEFA Champions League 2006-2007 (PSP/PS2/X360/PC)
• Virtua Tennis 3 (PS3/X360)
• Wing Island (Wii)
• Yu-Gi-Oh! World Championship 2007 (NDS)
• 
  
  We will update this throughout the day when new announcements become available. Read more for details ...

Enemy Engaged 2, sequel to the chopper classic Enemy Engaged: RAH-66 Comanche Versus Ka-52 Hokum, will feature new dynamic missions, multiplayer, and a complete overhaul of the graphics and audio to bring the game up to date with the latest and best flight simulations available.

Enlight Interactive announced Circus Empire, the world's first ever 3D circus simulation game. Players will be able to design their own circus in three dimensions, complete with trapeze artists, clowns, lion tamers and a variety of other performers, each with their own distinct personality.

Mozart, developed by Game Consulting, is a 3rd person point & click adventure game where you get submerged in the historical setting of Prague, with its legendary places and architectural treasures combing roman, gothic and baroque styles.

King of Clubs is a fun and engaging trick-based action puzzle game with distinctive vintage Americana graphics and soundtrack, featuring 96 levels, including 10 multi-level challenges, bonus areas, and humorous multiplayer mode.

Currently in development at inXile Entertainment, known for The Bard's Tale, HEI$T has gamers taking charge of a group of renegade criminals as they rob, steal and shoot their way throughout the city, all the while their sights set on the big score: taking the San Francisco Mint.

IGA Worldwide announced that it has added its 50th new title and is set to deliver one billion in-game ad impressions by year's end.

Oxygen Games today announces its next DS title - a modern, stylish and comprehensive take on pool entitled, 8Ball Allstars.

Lexicon Entertainment's Chronos Twins is a sidescrolling action game that plays on the concept of time travel in a reassuringly unique manner as it is interwoven as a main game play element.

Genesis Rising: The Universal Crusade is a futuristic 3D game that uses the best elements of RPGs within the context of a fast moving RTS game, set in a mysterious future universe where organic machines are built using genetic engineering. This singleplayer demo includes an Intro Cinematic, 3 Tutorial Missions and 2 Single Player Missions. 

Adds layers of strategy to your gaming experience by building mobile bases, wielding the power of terrifying Ion Storms on the battlefield, or customising your armies by combining units. Battle it out online with native VOIP, integrated clan support, and new spectator modes that let you play RTS games like a sport.

SCEA announced that the next system software update for the PS3 will be available March 22, delivering features such as Folding@home connectivity, enhanced downloading of content from the PS Store, support for Bluetooth keyboards and mice, and an optional full QWERTY on-screen keyboard for text entry.

Playing as a warrior riding a voracious dragon trained for deadly aerial and ground combat, and capable of scorching, clawing and smashing thousands of enemies, gamers must defeat countless armies to save a civilization. Together, the gamer and the beast will attempt to change the destiny of a world on the brink of extinction.

After Capcom earlier announced it's bringing Devil May Cry 4 to X360 and PC, the latest Famitsu issue reveals that Namco is working on Ace Combat 6 for the Xbox 360, a franchise previously only on PS2 and PSP. Currently scheduled for later this year, AC6 will be larger in scale, cover more terrain than ever before, and feature a slew of Xbox Live multiplayer modes such as Battle Royale, Team Battle, co-op, including achievements and rankings.

Sony Europe and BigBig Studios' sequel to 2005's high speed action game. Pursuit Force: Extreme Justice ups the ante with a Hollywood inspired storyline, multiplayer modes and will be coming to the PS2 as well.

Media analysts Screen Digest's latest research revealed that the market value for MMOGs outside Asia hit $1 billion for the first time in 2006. While subscription services continue to dominate in the West accounting for 87% of the market, new business models like virtual item sales and in-game advertising have also made their mark during the year.