Crytek UK has been teasing TimeSplitters 4 for quite some time now, putting out videos and statements here and there for the past 4 years. They've been hemming and hawing on it, to be sure, but now they've come out and announced that it's flat-out "not in development." They also made some strange joke about in the announcement about monkeys.
Here's their answer to CVG's questions regarding TimeSplitters 4: "For TimeSplitters 4, with ever spiralling development costs, massive teams, and endless crunch we decided on a more radical development strategy. In short, the experiment was to implement the infinite monkey theorem. With cloning being a far too expensive option, we spent all of the development budget on buying monkeys on the black market."
So it was the monkeys putting out all those teasers for TimeSplitters 4? Apparently, as the statement continues, "Those seven monkeys are now sat in a room with typewriters and lot of mirrors, and we fully expect TimeSplitters 4 to be finished soon. Rumors are that they haven't written any code but just tease the press from time to time. Those damn monkeys."
When pressed for a more serious answer, Crytek simply answered, "No, it's not in development."
So while the joking around may come as a slap in the face to hardcore TimeSplitters fans, it also seems like there may be an inside inter-office joke going on there as well.
So it looks like RIP TimeSplitters, for now.