The Last Guardian has been delayed until December 9th in the U.S. and December 7th in the U.K. according to PlayStation Blog. In the official statement, the team remarked that they were having some issues in the late stages of development that needed to be addressed...
"A delay is a difficult decision, particularly with this game, but we have encountered more bugs than anticipated while in the final stages of development. To ensure that The Last Guardian delivers on the experience that the game’s creators have envisioned, we need to take the extra time to work on those issues."
The news I'm sure comes as a disappointment to those thinking they were going to play the game in October. If its any consolation, there are too many good games coming out in October as it is! Hopefully we get to see this game before 2017 and it's as amazing as footage so far has indicated.