THQ has announced that Saints Row: The Third, the latest installment of the over-the-top action series is currently in development for the PS3, Xbox 360 and PC.

Yes folks, you heard it right! A new iteration of the multi-million unit selling Saints Row franchise is in the works and this time, they are taking the open-world crime genre into new heights that promises to deliver the "most insane installment yet."

“Saints Row: The Third puts you on top of the world, right at the beginning of the game, with all the perks that go along with being the head of an elite criminal organization,” said Danny Bilson, THQ Executive Vice President, Core Games. “There’s no delivering pizza, no shuttling family members about in a long series of taxi missions. Instead, you take all the power of the Third Street Saints and you take the world by storm.”

Developed by Volition, Inc., the game is currently slated to arrive this holiday season. As posted in the press release, here's a little preview of the storyline:

"Years after taking Stilwater for their own, the Third Street Saints have evolved from street gang to household brand name, with Saints sneakers, Saints energy drinks and Johnny Gat bobble head dolls all available at a store near you. The Saints are kings of Stilwater, but their celebrity status has not gone unnoticed. The Syndicate, a legendary criminal fraternity with pawns in play all over the globe, has turned its eye on the Saints and demands tribute. Refusing to kneel to the Syndicate, you take the fight to a new city, playing out the most outlandish gameplay scenarios ever seen. Strap it on."

More Saints Row: The Third details will be revealed in the exclusive cover story in Game Informer’s April issue which will be out to subscribers in early March 2011. Be sure to check back with us as we try to gather more info about the game.

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