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Take-Two names new CEO

Video game publisher Take-Two Interactive Software, creator of the smash "Grand Theft Auto" game series, announced Friday that its board has selected Jeffrey Lapin as the company's new chief executive. Lapin formerly was chief operating officer of rival game publisher THQ.

Lapin will take over at Take-Two effective Jan. 2, when current CEO Kelly Sumner will switch to president of Gathering of Developers, the company's PC game studio.