In an issue of official playstation magazine said that a new Timesplitters is to be announced or as they put it "Gun-wielding monkeys are making a comeback! a fourth Timesplitters is being announced soon." While free radical is no longer under the same name (the name was changed to Crytek UK when they were bought out due to financial troubles.) they have been thinking of ideas about a new timesplitters game for a while and have yet to actually denounce this rumor
In my opinion i think this is long overdue I cannot imagine the number of hours i will spend in the multiplayer and map creator. so what do you think of it?
Sources: gameinformer.com, gemastsu.com, official playstation magazine