How many articles about bad economy and suffering publishers have you read on QJ in the past two months? I lost count. That's because it's undeniable - the gaming industry in in the toilet, praying not to be flushed. Take-Two's Chief exec, Strauss Zelnick, describes the current situation to be so bad, that "being slightly down is the new up."

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.

It seems like Electronic Arts still won't be getting their hands on the Grand Theft Auto creators any time soon. Despite receiving a newly revised offer, Take Two's Strauss Zelnick criticized EA's actions saying it was once again undervaluing their company. You can read more about what the Take Two chairman had to say in response to EA's offer in our full article.