BioShock 2 was planned as a November 3rd release date, but today the studio's owner announced a delay to "fiscal year 2010" in order to spend more time developing the game.

In regards to the delay, Take-Two Chairman Strauss Zelnick says:

Strauss Zelnick, Chairman of Take-Two, stated, "We recognize that our revised outlook for the balance of fiscal year 2009, due to both internal and external factors, is a disappointment. That said, we concluded that moving the release of BioShock 2 into fiscal year 2010 was the right decision for the product. We believe the result will be a more compelling consumer experience and a better performing product in the marketplace.

Take-Two CEO Ben Feder adds:

The decision to shift a release date is never an easy one, especially with a product as highly anticipated as BioShock 2. We felt that it was essential to invest the additional time to ensure that this title will deliver what its fans expect and deserve. As a result, we will now be launching sequels to several of our strongest franchises -- including BioShock 2, Mafia II, Max Payne 3 and Red Dead Redemption -- during the next fiscal year.

The fiscal year delay doesn't necessarily mean BioShock 2 is delayed until the 2010 calendar year (company fiscal years often start months earlier). But considering that BioShock 2 was scheduled to release in November, a 2010 release is looking likely.

UPDATE: It's official -- BioShock 2 will be released in the "first half of calendar 2010," CEO Feder confirmed in a late-afternoon conference call with Take Two investors.