Today, Rockstar games confirmed the existence of GTA V through a tweet that simply read "#GTAV," with a link to the developer's main Web page. That page has been temporarily replaced with a single image: the logo for Grand Theft Auto V, along with a promise of a first trailer on November 2.
The latest rumors surrounding the long-expected GTA V swirled in June, when development was said to be "well under way" by a source close to Rockstar. The source also indicated that a 2012 release was very likely for the title.
No official details about characters, setting, or platforms have yet been made, but various casting calls linked to Rockstar have suggested that a return to the fictional city of San Andreas and its environs is likely. Wedbush analyst Michael Pachter--who initially stated he expected the game to be out by the end of 2010--has estimated GTAV's development costs have passed $80 million, and that it will sell in excess of 18 million units.
Wherever the next GTA is set, it will have some big shoes to fill. Its predecessor, Grand Theft Auto IV, was a massive success for Rockstar and Take-Two. As of March, the game had sold nearly 20 million copies, placing it among the top-selling games of all time.
[UPDATE] This story originally reported that Grand Theft Auto: San Andreas sold more than 12 million units globally, citing official figures as of 2005. At the time of EA's hostile takeover bid in 2008, Take-Two updated those figures, revealing that the game had at that point sold some 21.5 million units worldwide.