Gamasutra have an article on 2K's latest conference call in which they talk about the posibility of more BioShock

In its conference call with investors, officials from Take-Two have hinted at BioShock becoming a long-term franchise on a 'roughly 2 year interval ... Zelnick said that a "roughly every two year schedule" was "optimal," which the company has traditionally roughly followed with its Grand Theft Auto games, saying that it's applying "the same strategy to BioShock" and adding that the company feels "awfully good about where that's going."

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