I think they will be working on a new IP, they are going for an thrid person adventure game(wether horror based, or more action based, no idea, but I would say they would lean more in the "uncharted" side).And they are going realistic.In that, I mean that they are going as realistic as possible with the graphics.
My (locked) thread about how difficulty should be a decision for the developers, not the gamers.
https://gamrconnect.vgchartz.com/thread.php?id=241866&page=1