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Oh there will still be a Timesplitters. Publishers own the property so they'll still make it just ship it to another developer or work on it in house.

Factor 5 is best known for the Star Wars: Rogue Squadron games which is owned by Lucasarts of course. Nintendo might have a stake in it, but I don't know. Either way that franchise will continue. Nothing property wise will be lost. Not going to be like when Acclaim went down.