Deep Silver has announced that TimeSplitters is returning and is being developed by a newly reformed Free Radical Design, the studio responsible for the original game. In Addition to this, two of the original founders will be working on the new project.
In the announcement, Deep Silver said "You asked and we listened. We have been working on plans to bring the TimeSplitters franchise back to life, and are pleased to let you know that we are setting up a new Deep Silver development studio to do just that. Free Radical Design is reforming and will be headed up by industry and TimeSplitters veterans, Steve Ellis and David Doak."
The game does seem to be in its early stage of development, with the statement continuing by saying "This is an exciting first step in the process; development on a new game has not yet started and we will update you when we have more news to share."
I remember playing this game on split-screen with some friends and I have fond memories of it, however, I don't see how the gameplay of the previous game stacks up in the modern day. Unless it's an Overwatch-style shooter and then I'm all in.