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Take-Two Interactive CEO Strauss Zelnick revealed yesterday during a Cowen and Company analyst conference (covered by GameSpot) that a new Red Dead Redemption game is on the way and that BioShock is not dead.

The future of the BioShock franchise has been up in the air since Irrational founder Ken Levine announced that the studio would close and he would form a smaller development team within 2K. But yesterday Zelnick said that the franchise will live on and made clear that it was still a priority for the company.

'We haven't given any color on how you should think about it yet except we do believe it's beloved; we think it's important [and] certainly something that we're focused on; something 2K Marin will be responsible for shepherding going forward,' he told the Cowen and Company analyst conference.

You may recall that Take-Two essentially closed the Australian studio. But apparently Take-Two plans on rebuilding a team there to handle future BioShock games.

'I think there's a lot of upside in that franchise,' continued Zelnick on the subject of BioShock. 'It hasn't necessarily been realized yet. And the question for the future, assuming we decide to answer the question, would be 'How do you stay true to that creatively?'; 'How do you do something exciting?'; and 'How do you do expand the market?'. That would be the natural drill. We're starting from a good point on it. And certainly it's been a great piece of business for us; it's been a profitable piece of business.'

He closed by saying that the public could count on future installments in such series as GTA, Red Dead, Borderlands, and the company's line-up of NBA games.