Rumor - Grand Theft Auto V is 'well under way'

Grand Theft Auto V is apparently well into development and will likely hit stores next year, according to a report on GameSpot.

The site has heard whispers from sources close to Rockstar claiming that the crime sequel is “well under way,” and that a 2012 launch is “pretty likely.”

Further info is being kept under wraps, though the source teased that “it’s the big one.”

GTA V has been rumored for quite some time now, with a number of casting calls surfacing back in March indicating that a follow-up is on the horizon. Internet rumblings pointed to an E3 reveal, though that obviously failed to materialise.

Stay tuned for more developments as they break.