Take-Two Cancels Several Unannounced Games, Quietly Delays Others

Take-Two has canceled several unannounced games and quietly delayed others amid what the publisher calls a “challenging consumer backdrop.”

Take-Two made the announcement during today’s earnings report, saying that “the development timelines of some of our titles have lengthened, especially as we strive to redefine the creative standards of excellence in our industry, which affect our release slate for the year.”

Take-Two will incur a $54.2 million impairment charge in the fourth quarter “related to capitalized software development costs for unreleased and canceled console and PC titles.