Take-Two's 'Grand Theft Auto IV' tops $500M in week 1 sales

By BARBARA ORTUTAY, AP Business WriterWed May 7, 3:10 PM ET

"Grand Theft Auto IV" raked in more than $500 million in its first week in stores, selling more than 6 million units worldwide, the video game's publisher said Wednesday.

The highly anticipated title from Take-Two Interactive Software Inc. has received stellar ratings along with criticism for its violent content. The game follows Eastern European immigrant-turned gangster Niko Bellic on crime missions around a fictional Liberty City.

The title sold about 3.6 million units on April 29, its opening day, bringing in roughly $310 million. This is $10 million more than what Microsoft Corp.'s "Halo 3," another blockbuster game, took in during its first week last fall.

New York-based Take-Two is the subject of a $2 billion hostile buyout from larger rival Electronic Arts Inc., which Take-Two has repeatedly rebuffed as too low.

Take-Two's shares were recently trading at $26.39, above EA's tender offer of $25.74 per share, which expires May 16. Unless EA is willing to offer more, it seems "increasingly possible" the acquisition attempt could unravel, Janco Partners analyst Mike Hickey said in a note to investors.

Wedbush Morgan's Michael Pachter disagrees, however, saying the game's sales were well within his expectations.

"I don't think it changes the value of the company," he said. "I think we are going to end up with a Microsoft-Yahoo situation," with Take-Two Chairman Strauss Zelnick believing the company is worth more and EA chief John Riccitiello disagreeing.

Three months after it first made an offer, Microsoft dropped its $47.5 billion bid for Yahoo Inc. over the weekend after the companies couldn't agree on a price.

Pachter said he expects the game to sell 12 million copies by the end of 2008. GTA's previous versions have sold more than 70 million copies worldwide.

Already, the game seems to be living up to its juicy past, which includes controversy over hidden sex scenes, sharp criticism from Hillary Rodham Clinton and a 2006 lawsuit that blames the game for three New Mexico murders committed by a 14-year-old.

For one, Take-Two sued the Chicago Transit Authority on Monday for removing ads for the game because of its "Mature" rating, which means it is not suitable for people under 17. And the game also caught the ire of Mothers Against Drunk Driving, which seeks an adults-only rating because it lets players drive after imbibing in virtual liquor.

Source: Print Story: Take-Two's 'Grand Theft Auto IV' tops $500M in week 1 sales on Yahoo! News

I've always been a fan of the series and this one is quite surreal and I felt quite disturbed with myself as I manically laughed while using a pump shotty as I blasted people's heads off -

with that said, it should also be noted that this version of GTA is sold on TWO systems simultaenously (soon to be three as it is released for the PC) unlike before where it was first sold on one console, then released on other platforms later on, so I am sure the numbers have something to do with that (and the fact that gaming has become mainstream).

I am one of the millions who bought it on the day it was released. (Even though it only got here yesterday) I agree with Saje, the fact that it was avaliable on both 360 & PS3 probably had a lot to do with the sales.

We have it... the BF is obsessed with it, i haven't played yet... Looks really good though!

I don't know what is so great about that game, must have some sort of brain washing thing in it cause i dont think its amusing to pretend to kill people, the sexual theme isnt necessary either IMO, and i have always wondered why all these games that are coming out these days are so crude.

I hate it personally, i think its cheap and disturbing. Too over the top with the violence.

I've played GTA London, Vice City and San Andreas and I loved them.

I'm a big GTA fan and I can't wait for the PC version of GTA IV.

It's sad that some teens can't make the difference between game and reality. And also many kids under 17 are playing it..

But I'm sure this game is one of the best videogames ever, it's very complex..

We just bought it a couple days ago and it's pretty cool. I think the reason a lot of people like it is because it's very realistic. I agree with Daeron though, the sex in this game is over the top and unnecessary. You can actually pick up a hooker and have her perform oral on the guy and it shows!! I'm like OMG! It was one of the many previews online for the game.

well the sex might be unnecessary but it wouldn't be realistic without it..