Free Radical was in trouble of shutting down apparently, and needed to be purchased by another company. Crytek, the creators of the Far Cry and Crysis series, ended up purchasing Free Radical.
Crytek purchased Free Radical back in February, and later layed off over 140 employees whom were labeled as “redundant”. CEO, Cevat Yerli, says that Crytek was chosen to purchase Free Radical, over the other choices, because Crytek gave them the opportunity to create the games they’ve always wanted to create. They are given the chance to “grow”.
Whether Timesplitters 4 is included in one of the games they’ve always wanted to create, no one knows. But we can hope, seeing the concept art that was released for Timesplitters 4 and Starwars Battlefront III. Crysis is a big company, being the makers of Crysis, I have hope that they can really improve and help the Free Radical team to make big games and projects to come. Free Radical should be happy that they’re paired with Crytek now.