Last we heard, Grand Theft Auto V's development was "well underway". Well, now, according to
the "Crystal Ball" in the latest issue of Official Xbox Magazine, the
long awaited next installment in the Grand Theft Auto series is expected
to be announced some time later this summer.
The article reads:
Time's up, says The Ball. Expect Grand Theft Auto V to be announced later this summer.
— Official Xbox Magazine
With the 2011 Gamescom Conference coming up next month in Germany,
this would be the most logical spot for a late summer announcement. But as always, we'll
just have to wait and see!