Strauss Zelnick of Take-Two Interactive recently spoke at the BMO Interactive Entertainment conference and shared his opinion on the game industry's standing amidst the ongoing economic turmoil. His observation: they're not immune from recession. His prediction: it's not looking good. Find out more about these earth-shaking revelations after the jump.

Looks like it'll be a Grand Theft Auto-less holiday season. According to Take-Two Interactive, both the Xbox 360-exclusive Grand Theft Auto IV DLC and Grand Theft Auto: Chinatown Wars for the DS have been delayed.

Details after the link.

After a long drawn out battle to stave off Electronic Arts' takeover bid, Take-Two chairman Strauss Zelnick laid down the final word on Take-Two's status as a company, announcing that they have decided to remain independent after all.

So after the whole EA-acquisition deal, both Take-Two and EA's stock shares plummeted. Such trying times indeed. So today, T2's busy with damage control. They just published a press release to reaffirm to everyone (most especially investors) that they're still a strong company and will remain an independent company. Warning: boring corporate fodder ahead.

After the Federal Trade Commission gave its blessing to continue merger negotiations, Electronic Arts and Take-Two Interactive have finally begun its closed door meeting regarding the deal. However, it seems that both parties will be rather tight-lipped regarding the details of the meeting. You can read a statement released by EA regarding their "secret negotiations" in our full article.

Electronic Arts has once again extended the deadline for its buyout offer for Take-Two Interactive's shares. While EA's persistence may impress some, Take-Two's own execs aren't as amused. More on this story in the full article.

The comments made by Take-Two CEO Strauss Zelnick about how 2K Sports titles are out-rating EA Sports games in reviews seem to have gotten to EA Sports boss Peter Moore. Peter blogged recently about how competitive their line-up is and he spoke of how franchises like NBA Live will put on a ground-breaking show when E3 2008 comes. More details in the full article.

EA Sports or 2K Sports? Although EA Sports has the advantage in the number of their franchises, Take-Two head Strauss Zelnick believes that 2K Sports still "outrate[s] them significantly." Quite a claim. More in the full article.

Whoa momma! Er, I mean... Whoa, big daddy? Meh. Anyway, good news, BioShock fans! Did your heart leap when T2 announced a sequel for the first game? Well, better have a defibrillator ready, looks like there's going to be a third installment! Yep, T2's Zelnick has let slip that BioShock is a trilogy (at the least). More in the full article.

 As expected, stellar sales for Take-Two Interactive's Grand Theft Auto 4 (Xbox 360, PlayStation 3) have powered the company's financial status into the green zone. Serious numbers have been shown in a conference call held by the publisher and BioShock chipped in of good figures. Numbers galore in the full article up ahead.