In a move that can no longer be considered surprising, President of Sony's Worldwide Studios Shuhei Yoshida has announced that The Last Guardian will receive one final delay to do some bug fixes.
For those who have been following The Last Guardian closely, the game has been delayed numerous times over its 9-year development. First announced in 2007, the game was originally going to be a PlayStation 3 exclusive. However, the game was repeatedly delayed, causing everyone to assume that The Last Guardian would be going the way of Half Life 3. Then, at last year's E3, the game was shown at Sony's press conference. A release date was given then, with the game scheduled to be released on October 25th.
With the announcement of this new delay, The Last Guardian would miss its October 25th launch date. Currently, the game is scheduled for a December 6th launch. Barring any other unforeseen delays, The Last Guardian will finally be out on store shelves.
Source: PlayStation Blog