BioShock to have sequel, Take-Two job cuts underway

Listed in: News, Bioshock, Games Tags: Strauss Zelnick

Encouraged by BioShock's success, having shipped 1.5 million units since its August 21 release date, Take-Two is considering to make BioShock a gaming franchise with new games every two years. "Clearly, we have a new hit franchise on our hands," Strauss Zelnick, Take-Two's chairman said.

However, despite the gains brought by BioShock, Take-Two has taken a monetary hit with net loss amounting to US$ 58.5 million. Yet they were able to get revenues worth US$ 206.4 million for Q3 ending in July 31, spurred by their top titles such as Fantastic Four: Rise of the Silver Surfer, The Darkness, and The Bigs across different platforms.

The loss was attributed to reorganization and restructuring of the company as well as legal expenses. "We're moving from fixing the company to managing and growing our business," said Zelnick in a conference call with Next Generation.

Managing and growing business also means another slew of job cuts for Take-Two, expecting additional restructuring costs to be incurred in the fourth quarter of 2007 and will stretch out into the 2008 fiscal year.

But how about Grand Theft Auto 4? Zelnick said that the delay into year 2008 is not for naught, and also mentioned that the game already looked great when he checked on it last Friday.

[Via Next Generation]