Rumor: GTA 4 Team Working on PS3 Exclusive, Warriors Veterans Handling Max Payne 3

A new entry in the long-dormant Max Payne series and a new PlayStation 3 exclusive are both in development at internal Rockstar studios, going by the latest batch of rumors from print magazine EGM and sister website 1UP.

Max Payne 3 is apparently is development up at Rockstar Toronto, the studio responsible for the movie-inspired beat 'em up The Warriors. Considering the upcoming movie, a new game in the action-heavy shooting series would come as little surprise, though studio owner Take-Two has remained tight-lipped.

Originally created by Remedy Entertainment, the first Max Payne debuted in 2001. Publisher Take-Two then purchased the property from Remedy and producer 3D Realms in 2002, with a Remedy-developed sequel following in 2003.

A third game was teased at the end of the sequel's credits, though Remedy--currently at work on Alan Wake--soon noted that it was not developing the next Max Payne.

As for the new PlayStation 3 exclusive, the publication had little to offer, only noting that it is being helmed by Grand Theft Auto IV veterans Rockstar North.