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VGKing said:

Because they can't. All the best developers are working on PS3 games or even PS4 games now.
What Sony is doing is letting their mid-tier developers make Vita games....which hasn't worked out so far. But I heard Media Molecule is working on Tearaway? Also Guerrila on Killzone?

Media Molecule is doing Tearaway. Guerrila has two teams, one working on Killzone Mercenary and the other on a new IP (or Killzone 4).