According to Doug Creutz, a Cowen & Company analyst, GTA 5 won’t be release before march 2012. The chance Take Two launches Grand Theft Auto V in the next financial year is too slim. After the release of Take Two’s financial results, Doug Creutz made the forecast in which the next GTA isn’t mentionned.
Michael Pachter, the famous Wedbush analyst, affirmed in december 2010 that GTA 5 is in development. He expects that it would be released by Q4:12 at the latest, as the contracts of the 3 main employees working on the GTA series developement (Dan Houser, Sam and Les Benzies) expire next year in january 2012.
Anyway between now and then, Take Two has some other aces up its sleeve, like LA Noire, X-Com and Duke Nukem Forever.