Take-Two Brass Flagged for Delay of Game

While acknowledging that the game has posed technical challenges during development leading to its delay, Take-Two's Zelnick has tried to spin the decision to delay the product as one where the company would rather ship a product late than ship a less-than-stellar version.

The chairman's words, however, raise questions about whether the new bosses are on top of the company's development schedule.

"This announcement just weeks after the company's midquarter conference call, where management confirmed the title would be released on time, is an indication that visibility remains clouded both outside and within the company," Piper Jaffray analyst Anthony Gikas writes in a report. Piper Jaffray makes a market in Take-Two shares.

It is also unclear if Take-Two's new management has been able to reign in the creative team at Rockstar Games, the development division of the company responsible for its biggest blockbusters.

With the yet-to-be released Manhunt 2, Take-Two's management seems hesitant to make needed, tough decisions.

Manhunt 2 was denied a rating by British certification authorities for its violent content and offered an "Adults Only" rating in the U.S., effectively limiting its retail sales. Take-Two has appealed the British ruling. At the same time, it has taken the game off its slate for fiscal 2008.

Zelnick and CEO Feder have yet to say if they will rework the game to make it more palatable for commercial release.

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