One of the most brand recognizable names in the world of video games has to be Grand Theft Auto. With its most recent release, Grand Theft Auto 4, the video game maker Take-Two Interactive (NASDAQ: TTWO) is already dealing with controversy after the city of Chicago "jacked" ads that the company purchased to advertise its newest game release.

Since the first installment of Grand Theft Auto, the game has been one of most discussed video games on the market, largely due to its high level of violence. Video game junkies love it, while parents cringe at the thought of their kids playing the game. The game definitely deals with some seriously taboo subjects; car-jacking, prostitution, cop shootings, drive by shootings, and drunk driving to name a few. But is this really enough to justify the city of Chicago pulling paid ads for the game?

Leading up the current release of Grand Theft Auto 4, Take-Two paid Chicago a reported $300,000 to place ads for the video game on the sides of buses and transit displays for a six week period starting on April 22. After the local Chicago news questioned the city's decision to run the ads, they were quickly pulled. The report questioned the taste of the ads, given the violence that has escalated recently in the city.

OK, I will say this: the video game could be violent and questionable enough to justify the city not running the ads to begin with, but after entering into a deal with the company to run the ads, I think it is questionable whether or not they should be allowed to pull the ads. Should we believe that the city was unaware of the video game's content before accepting the contract? If so, then shame on them. If they did understand the video games genre (which I have to assume they did), then shame on them for letting the media pressure them into pulling the ads.

I am not going to defend the content that kids see when playing Grand Theft Auto 4. Personally, I love playing the video game series, but would definitely think twice about letting a 12 or 13 year old child play it, but there is one small thing here that you may have heard of before, called the freedom of speech. I have never personally been in Chicago (at least other than its airport), but if it is like most other big cities, I have to wonder if you can drive around the city and see billboard ads for strip clubs?

A quick Google search does indeed verify the city allows strip clubs, so I am 99% sure you can see those clubs advertised on billboards around the city. Are ads for video games really any worse? Where will the city draw the line?

In reaction to the ad jacking, Take-Two has taken Chicago to court, and is suing for its $300,000 to be returned, as well as for the ads to be replaced and run for the entirety of the contract it had with the city.

Despite the controversy, copies of the video have been flying off the shelves since its release last week, and the company expects to see first week sales of around $400 million. Fans stood in lines for hours and in some cases camped out overnight in order to get their first day copy of the new video game.

According to one fan, "This game has everything -- sex, drugs, cars, money . . . anything you want." For fans that is great news; for worried parents, well, that's another story.

So if you have played the new game, let us know what your thoughts are on the newest release in the blockbuster game series. And, what are your thoughts on the actions Chicago took in pulling the video game ads? Should they be forced to put them back up, or does the game's content justify the ads being pulled from the transit system?