Rockstar performance | 6 million units sold

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

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AP

FLYING OFF THE SHELVES: A customer rushes in to purchase a copy of the game Grand Theft Auto IV at a Best Buy store in Mountain View, Calif., recently. Grand Theft Auto IV is reporting a record breaking first week in sales.

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 Riccitiello disagreeing.

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.