What happens when your company is the maker of one of the hottest IPs in media at present and you announce a delay? Your shares fall like EA’s fell 2% on Monday after the company announced a delay in the release of its much anticipated Harry Potter video game until summer 2009.

The delay is disappointing for the industry’s largest video game publisher. According to a filing, the company expected "Harry Potter and the Half-Blood Prince," which had been scheduled for release in November in time for the holiday shopping season, to generate $120 million in revenue and 13 cents a share in profit during the fiscal year that ends in March, 2009.

The delay follows last month’s surprise announcement by Warner Brothers that it was pushing back the release of the film, "Harry Potter and the Half-Blood Prince" until the summer.

EA and Warner Bros. Interactive Entertainment said the game was being released at a later date to coincide with the release of the film.

EA said players will have the chance in the new game to join Harry Potter’s exploits in his sixth year at the Hogwarts School of Witchcraft and Wizardry. They will brew magical potions, engage in air duels and sort out the identity of the Half Prince.

Source: TheStreet.com