'Grand Theft Auto V' to be set in Los Angeles, USA, and feature multiple playable characters?

From Digital Spy:

'Grand Theft Auto V' set in Los Angeles, has multiple characters?

Grand Theft Auto V will be set in Los Angeles, according to a report.

A source close to the project told Kotaku that the open-world game will be set in the West Coast city.

Meanwhile, the report also states that the leap from Grand Theft Auto IV to Grand Theft Auto V may represent a "paradigm shift".

Previous games have seen non-numbered iterations, such as Grand Theft Auto: Vice City and Grand Theft Auto: San Andreas before Grand Theft Auto IV, and the downloadable episodes following that.

It was suggested that a change to the series formula could be underway, while several sources have added that multiple characters will also be playable throughout the course of the game.

The fresh report backs up previous speculation that the fifth Grand Theft Auto will be set in modern-day Los Angeles, and feature returning characters from GTA: San Andreas and GTA IV.

Announced yesterday, Grand Theft Auto V was given its first teaser image and the announcement of a trailer for November 2.

Most analysts expect that Grand Theft Auto V will be released in 2012, although Rockstar is likely to launch later in the year so as not to clash with March's big Max Payne 3 release.

Last week, Rockstar released a trailer for the forthcoming Grand Theft Auto III: 10th Anniversary Edition, recapping the acclaimed 2001 game set in a version of New York called Liberty City.

Watch the trailer for Grand Theft Auto III: 10th Anniversary Edition [here].