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UPDATE 12/12/23: Following yesterday's reports that Free Radical Design - the studio set up in 2021 specifically to work on a new TimeSplitters game - had been closed, studio owner Plaion (a subsidiary of the beleaguered Embracer Group) has made the news official.
"It's with a heavy heart that we must announce yet another difficult decision," Plaion wrote in a statement provided to VGC. "Today, we have to confirm the official closure of Free Radical Design, and say goodbye to many remarkable, talented and hard-working people.
"We are beyond grateful for their incredible contributions to Plaion and wish them the best of luck and success on their professional journey from here on out."