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Take Two/Rockstar Announce GTA Sales, Plans
Thanks to GameGossip for their coverage of a Take Two financial conference presentation in which the company revealed details on its software sales and plans. The company's Rockstar Games subsidiary has now, astoundingly, sold "over 25 million units" of the Grand Theft Auto franchise, and "over 20 million" of those were from GTA3 and Vice City alone. Looking forward, the company's financial officers mentioned the November 19th release of GTA developer Rockstar North's gory Manhunt as a highlight, and also noted that "mid-2004 would see the release of The Warriors from Rockstar", as based on Walter Hill's cult gang movie. Finally, the next iteration of Grand Theft Auto, name as yet unknown, "will ship during late 2004."
Some friends of mine were designing a title just like you described, only multiplayer was a requirement, and some people could play as the cops instead. Cops would work together to take down the crime syndicates run by other players. The option would be open for player Cops to be crooked, and give false tip-offs and be paid off by the mob. While the other side tried to spread their crime ring by the usual illegal means, and not get caught. Players caught would have to serve time in a penalty box similar to Q3 Arena's Jailbreak mod, but could be sprung by other players, including crooked cops paid to free them.
It would be loads of fun if done correctly, though the game is surely not being made now. Hopefully someone else picks the idea up. (Hint, hint).