GTA V pushed to September

GTA Five

Markets react negatively as Rockstar claims its new title needs more time.

Rockstar Games has announced that its fifth instalment of Grand Theft Auto will now not hit shelves until September 17th, 2013.

This represents a back-step for the company, which had said its crime-world game would be out this spring, with Rockstar saying it needed additional development time.

"Grand Theft Auto V continues to push the series forward in new ways; Rockstar North are creating our deepest, most beautiful and most immersive world yet," said Sam Houser, studio founder.

"We are very excited for people to learn more about the game in the coming months."

Since the announcement the developer's owner and publisher, Take-Two, has seen its share price dip 6.8% to $12.17.

The company's fortunes have been heavily linked to the release of its Grand Theft Auto titles, with the share price at one point soaring to $26 during the impending release of GTA IV and a take over bid by EA.

While the bid turned hostile, Take Two was able to shrug off EA's advances and its share price settled as consumers burned themselves out on GTA IV.

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