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EA Bid Looms Over 'Grand Theft Auto' Launch

Take Two Interactive's "Grand Theft Auto IV" is expected to have one of, if not the biggest launches in entertainment history when it hits stores tomorrow. Analysts are predicting a $400 million opening week for the video game, topping Microsoft's "Halo 3," which set the previous record last fall with $300 million in sales.

"Grand Theft Auto", an 11-year-old franchise that's sold more than 65 million copies worldwide, also happens to be at the center of a $2 billion takeover war between Take Two and Electronic Arts, the industry's biggest third-party developer. Take Two has said it's unwilling to consider a deal until after tomorrow's launch, as the company believe sales will be so huge and Take Two shares will receive such a boost that EA will be forced to sweeten its offer.

Early revues of GTA IV are glowing-indeed, many are already calling it the greatest of all time-and analysts expect the game will ultimately sell 18 million copies and ring up nearly $1 billion in sales, of which 80% goes Take Two as gross revenue, with the remaining 20% going to retailers. But will it be enough for EA to raise its bid?

Read the whole story at Los Angeles Times »

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