*edit* Since this has been necrobumped, please take the following information with an open mind considering it is a month old. Also please consider today's statements from Del Toro and Reedus who say the game is cancelled. In light of that, I still believe there is a possibility that the game will be made, but under different premises and with near to no similarities to PT/Kojima's vision.

Latest news from a source that is close to Konami regarding Kojima's involvement with Silent Hills:

"Hideo Kojima will indeed be leaving Konami Digital Entertainment and is currently intent on finishing Metal Gear Solid V: The Phantom Pain. However, questions still remain about Silent Hills, another project under Kojima Productions. “Mr. Kojima is currently fully invested in all projects under his supervision,” revealed a source close to Konami to GamerCenterOnline. When asked about other projects that are also under his “supervision”, besides The Phantom Pain, the source revealed that “Kojima, at this moment, doesn’t want to associate with [Konami Digital Entertainment] any more than he already has to. Konami is heavily invested in Silent Hills and the development “will continue even without further involvement from Mr. Kojima,” revealed the source, who akin the change at Kojima Production to a “change in management.” As for Kojima's future plans, the source believes he may take a leave from development"

http://www.gamercenteronline.net/2015/03/20/silent-hills-will-continue-development-with-or-without-kojima/

Sad news indeed. It was sounding so promising and I'm not sure Konami can deliver without Kojima.

What the game had promised:

• Still undecided as to whether it will allow the player to cycle between first and third person, or keeping it fixed third person and having first person only areas.
• Reportedly will feature open world gameplay.
• Game is trying to be as scary as possible. Direct quote from Kojima:

"One thing that you have to keep in mind is that, if a game is too scary, people just won't play it. If it gets too scary you just keep your eyes shut and soon it will be over. But if it's a game, people will just stop. So that's why there's a limit on how scary you can make a game. But in this case we're totally ignoring that and, you know what? If you don't want to keep on playing through the game, so be it. We don't care. That's the game we are aiming for."

I'm not sure how many of these will come into play without Kojima, seeing as many aspects were Kojima's vision. Thoughts on the whole thing?

The game will be trash without Kojima, just like it has been without team silent. Very sad.

I just dont get Konami. Why not just keep kojima productions working on other titles while having a different team work on metal gear? Its what is going to happen anyways. It sounds like they wanted to force Kojima to work on metal gear and pushed too far. 

I really hopes this works out. I also hope Kojima starts his own studio and pumps out new IPs.

I think Kojima and Konami had a history of power struggles and squabbles over money; stuff like that. It sounds like Kojima wants to leave Konami as much as they want to be rid of him (by their apparent restricting of him and his employees)

Dammit I really hope Kojima stays on Silent Hills, was really looking forward to that game...

No one is doubting whether the game will be made, Konami. Their doubting your ability to NOT screw it up if Kojima leaves. And considering that man basically keeps you afloat almost singlehandedly, they have their reasons to be concerned.

But I dont want it without kojima... it really wont be the same without him

No it really won't

It will be good as long as its devoloped by japanese devolopers, they know better how to make scarry games. Various games proof it

Oh it will definitely be scary. Guillermo Del Toro knows how to make people shit their pants