"There has apparently been "very strong" interest in the company according to ReSolve Partners, the administration firm that took over when Free Radical went into administration back in December. The formal announcement of the studio's future will be made this week.
The main goal is to sell the studio as a whole, but ReSolve said that it would split Free Radical apart if that turns out to be the more lucrative option. The studio's IPs may also be sold to other companies.
Two companies that are reportedly interested in Free Radical are Codemasters and Monumental Games. ReSolve also mentioned that some companies outside of the video game industry have also shown interest in the Haze and TimeSplitters developer."
Yay for Timesplitters 3!