Take-Two announced that is has 20 games in development for the PS3, with more than seven titles from Rockstar Games, including Grand Theft Auto IV, scheduled in North American for Oct. 16, 2007 and Europe on Oct. 19, 2007. Additional Rockstar Games products include new original titles such as L.A. Noire, as well as extensions of blockbuster Rockstar Games franchises.

Take-Two received a NASDAQ Staff Determination letter indicating that the it is not in compliance with the filing requirements for continued listing on The NASDAQ Stock Market. Take Two failed to file its quarterly report in a timely fashion as it awaits the results from the Special Committee which is investigating the Company’s stock option grants.

Check out the following new screens from Take Two's X06 2006 lineup:

• Bioshock (X360/PC) - 3 New Screens & Trailer
• The Darkness (PS3/X360) - 5 New Screens & Trailer
• NBA 2K7 [ALL] - 14 New Screens

Milestone are back and bringing Super-Bikes: Riding Challenge with them, the most realistic and in depth riding simulation. Black Bean announced that it has signed a partnership distribution agreement with Take Two for the Benelux market.

While its q3 results were encouraging, up from $169 to $240 million compared to last year, Take Two warned investors that its full year result might be below expectations due to various factors, the delay of a yet unannounced prime PSP title, taxes, office relocation etc, but it will not release the final numbers until after its most recent SEC investigation has concluded. However it did confirm that Bully and GTA: Vice City are still on track for their October release, and looking ahead Take Two plans to release several new installments in various franchises.

Anti-violent video game activist Jack Thompson has today filed a lawsuit to force Take-Two to give him a copy of its school violence simulation, Bully, before its October 1, 2006, release date. Thompson claims that Take-Two has a history of downplaying the violence in its titles and therefore wants to see the game and judge for himself.

Take-Two announced today that following the 30-day period for public comment, the FTC has unanimously approved the Consent Order and Agreement with Take-Two and Rockstar Games. All outstanding matters pending before the FTC have been settled and no penalties or fines have been assessed.

Take-Two today announced that the Company has received notice from the Securities and Exchange Commission that it is conducting an informal non-public investigation into certain stock option grants made from January 1997 to the present. Take 2 had already initiated an internal review of its option grants, led by a committee consisting of independent board members who have retained independent legal counsel and accountants to assist in the review.

According to the New York Daily News, Roger Hill, who played a big-time gang leader in the 1979 cult movie, "The Warriors," filed suit yesterday, claiming that Take-Two does not have the rights to use his likeness in the video game of the same name. Hill's demands include $250,000 and a court order preventing further use of his likeness.

Take-Two Interactive announced that a week ago, it received grand jury subpoenas from the County of New York requesting various documents related to the knowledge of its officers and directors regarding the creation and inclusion of hidden scenes, commonly referred to as "hot coffee," in Grand Theft Auto: San Andreas.

While net revenue went up (from $222.1 to $265.1 million), net loss ballooned from $8.2 to $50.4 million, mainly due to continued retail weakness. As a result Take Two is cutting costs by closing internal development studios (so far Poptop, Indie Built, Rockstar Vienna and Frog City) as well as cancelling half a dozen titles, Snow being one. After a long period of silence, Bully was mentioned, and scheduled for release later this year.

Take Two settled Federal Trade Commission charges that it failed to disclose important information about the game's content to consumers by not disclosing that the game discs contained potentially viewable nude female characters and a potentially playable sex mini-game. An $11,000 fine per "future" violation was ordered; luckily, this is not retroactive, as that would have cost Take-Two a total of $72 billion.

Check out the following new screens from Take Two's E3 2006 lineup:

• College Hoops (PS2/Xbox/PS3/X360) - Screens
• NBA 2k7 (PS2/Xbox/PS3/X360) - Screens
• NHL 2k7 (PS2/Xbox/PS3/X360) - Screens
• Bioshock [X360/PC] - Screens
• Dungeon Siege II: Broken World - Features & Screens
• CivCity: Rome - Features, Screens & Trailer
• The Darkness (PS3/X360) - Features & Screens
• The Da Vinci Code (PS/Xbox/PC) - Features & Screens
• Family Guy (PSP/NDS/PS2/Xbox/PC) - Features
• Prey (X360/PC) - Features, Screens & Trailer
• Sid Meier's Railroads! - Features, Screens & Trailer
• Stronghold Legends - Features & Screens
• Dungeon Siege: Throne of Agony (PSP) - Features & Screens
• Sid Meier's Civilization IV: Warlords - Features, Screens & Trailer

A Take Two PR representative just confirmed to us that its Utah-based internal development studio Indie Built Inc., known for Links, Amped, and Top Spin, has been shut down. Take Two acquired Indie Built Inc. back in October 2004. As of last night, it is no longer operational, and today, people are being told to pack their belongings and leave. Take Two's corporate office informed us that "employees are being offered packages including continuation of salary and benefits, as well as other opportunities within Take-Two as appropriate."

The City of Flint and its Pension Fund, both investors, filed a class action lawsuit against Take-Two, alleging fraud and insider stock trading.

Earlier today, Take 2 released its quarterly financial results, and in a nutshell, it ain't good. Net sales dropped almost 50% from $502M to 265M, while results went from a $55M income to a $29M loss. There were no changes in release dates, but the conference call revealed that due to "consolidation," Take 2's internal dev studio PopTop (Rollercoaster Tycoon, Tropico) has merged into the recently acquired Firaxis. Whether this means PopTop shut down, or both studios are working under the same umbrella wasn't explained. We tried to reach 2K's PR reps, but none were available for comment. Also noteworthy is that there won't be another GTA title until 2007, and 2K Sports is gearing up for its NHL, MLB, and NBA 2K7 lineup, including a new boxing title.

German publisher Frogster revealed that Bet on Soldier will see not one but two new addons during the course of 2006. Both add-ons will feature new stories, different singleplayer missions, new multiplayer maps as well as the eagerly awaited Team Deathmatch mode. Read more for details ...

Earlier this week speculations about a possible Take 2 takeover started floating around. Today the NY Post is speculating that Bono's private-equity firm Elevation Partners might be in the running to maker a bid which could be worth more than $1 billion, including debt. Elevation is said to have teamed up with Pequot Capital, who already owns a large chunk of Take-Two's shares (thanks Gamecloud). Last year Elevation Partners purchased BioWare and Pandemic Studios, and merged them.

A fire ripped through downtown New York on Saturday and reports indicate that the complex houses Take Two subsidiary 2K Games and Global Star. According to CBS the fire started late Saturday night in the building, which houses numerous offices for businesses such as American Eagle Outfitters, Prada, Bobbi Brown Cosmetics, the Guggenheim Museum, and of course 2K Games. Located on the 3rd floor, FDNY Chief of Operations said "It was a really difficult fire to fight, lot of hidden voids. It got up into some duct work on the first floor and traveled up to the fourth floor."

Take 2 announced that it has acquired independent developers Irrational Games. Known for such titles as SWAT 4, Tribes Vengeance and Freedom Force, Irrational is currently working on Bioshock for Take Two, scheduled for PC and nextgen consoles, but also SWAT 4 expansion pack for Vivendi.

Take-Two and Tecmo today announced a European publishing agreement for its PS2 exclusive Trapt, scheduled for released on the 24th February 2006.

Take-Two Interactive today announced the acquisition of Firaxis Games development studio. Joining the 2K Games publishing label of Take-Two Interactive, Firaxis Games is known for developing titles such as Sid Meier's Pirates! and the blockbuster Civilization franchise.

Take 2 today announced financial results for its Q3 and nine months ended July 31, 2005. Net sales and losses were up 6% and 100%, respectively, from last year. So far, net sales have increased 30%, and net income is $18.3M. Bully (PS2/Xbox) has been delayed to provide additional development time, while Civilization IV is ahead of schedule and has been scooted up into fiscal 2005. An all new IP for the X360 is mentioned, as well as extensions of the Grand Theft Auto franchise.

Take 2 today announced financial results for its second quarter, reporting a 45% increase in net sales. The results also reflect the delay of titles such as GTA: Liberty City Stories (PSP), Call of Cthulhu: Dark Corners of the Earth (PS2/Xbox), and Top Spin (PS2). Read further for more details than you can shake a stick at ...