It is gone dude, accept it. Two people related to the project have already said so

Because they can still use ideas from the original project, characters, plots, direction, etc. Cancelled means they throw away all the work that has been done so far and start from scratch. Could it be the case with the next Silent Hills? Yes. Is Konami's response verifying that? Not exactly. That's why I said that it's most likely cancelled. Not definitely. But most likely.

Oh, they'll just give it to another mediocre team, who don't really understand the franchise, and then they'll spit out another mediocre game.

It sounds like Konami is reducing it's game development presence (Video game) in favor for it's gambling business, since they have seen growth in that area. They even delisted themselves from the NYSE today.

http://www.ign.com/articles/2015/04/27/what-is-going-on-with-the-business-of-konami

At this point, about all the Konami has with regards to video games are its IPs; if they're not going to be doing much with them internally, they'll license them out or subcontract them to out of house development studios, similar to what Capcom started doing heavily during the last generation.

No need to worry about Konami as a company, but for consumers who only care about the games they've produced in the past and the IPs they created, it might be harder to be a fan in the near future.

Metal Gear is the only remaining IP of theirs that I continue to buy and after MGSV, I honestly don't know what the franchise holds after Kojima is no longer involved. More remasters?

They won't be bankrupt, but I'll be surprised if their gaming division survives beyond mobile.

Also trending...

You know what would make that code even better. Changing the T in Start to a D.