Grand Theft Auto IV hits record of $500m sales in first week

Grand Theft Auto IV, the latest edition of the "shoot-em-up" video game, had sales of $500m (£260m) in its first seven days in the shops, beating records not just for games titles but for DVD and music releases as well.

More than 6 million copies have been sold since its worldwide launch on 29 April, including 3.6 million in the first 24 hours, its producer, Take-Two Interactive, said yesterday.

For players, who assume the role of a recently arrived East European immigrant, the aim of the game is to make their way in an anarchic, New York-style city. For Take Two, the aim of GTA IV is win more money from Electronic Arts, which launched a takeover bid for the company this year.

Take-Two rejected the $2bn offer in February, saying that neither EA nor the stock market fully appreciated how lucrative GTA IV would be. Take-Two shares remain above the $26 level at which EA pitched its first offer.

EA, maker of The Sims and the Fifa soccer titles, is trying to bolster its portfolio of blockbuster games in the face of a consolidating video games industry. Vivendi Games, its rival which owns World of Warcraft, is in the throes of merging its gaming business with Activision, makers of Guitar Hero.