GameSpot is reporting that sources close to Rockstar and Take-Two Interactive have confirmed that Grand Theft Auto V
is "well under way"
and that development "is already having final touches such as minigames being applied to it."
The sources say that the game will see a 2012 release and that the game's scale is massive, claiming, "It's the big one."
The source, according to GameSpot, will not reveal any other secrets about the game. Strong hints of its development were seen in the past few months, such as a suspicious casting call last March and a rumor that Max Payne 3 was killed by the project.
Grand Theft Auto V is inevitable, but it'll be interesting to see how big of a deal it will be when it is finally announced.