Rock superstar Bono's new business venture involves high-speed car chases, sex, drugs, prostitution and crime and has parents across the world up in arms.

The campaigning star's private equity company Elevation Partners - named after the U2 song ELEVATION - is weighing up a bid for the video game firm Take-Two Interactive, responsible for the ultra-successful but equally controversial Grand Theft Auto series.

Players of some versions of Grand Theft Auto are encouraged to car-jack, shoot and kill, deal drugs and abuse prostitutes.

Take-Two was recently sued by the city of Los Angeles for allegedly hiding pornographic material inside new incarnation Grand Theft Auto: San Andreas.

The company has confirmed it is in talks with potential buyers about a deal, which would be worth more than $1 billion (GBP550 million), including Take-Two's debts.

Elevation has reportedly joined forces with Pequot Capital, a hedge fund and venture capital investors that already owns a chunk of Take-Two.

The deal would allow Elevation to use the skills of game developers Bioware and Pandemic Studios which it bought for $300 million (GBP167 million) last year (05).