
It's back! Featuring even more crazy characters, devastating weapons and heart pounding hot sweaty action. It's funny, it's frantic and it'll do things you've never seen before! No, not naked girls, even better than that! We can't tell you the details yet, the monkeys have a loaded banana pressed against our skull, but this game will take the first person shooter to gaming nirvana. Save the world or die laughing, Timesplitters 4 is coming to getcha!
IGN
TimeSplitters 4 Announced
Free Radical website indicates game in development.
by Jeff Haynes
October 9, 2007 - It's been a little more than two years since consoles saw a TimeSplitters game. The shooter, which features humorous takes on time periods and tongue in cheek action, appealed to players that didn't take the adrenaline paced game too seriously. Now it appears that the franchise is coming to the latest consoles. In a new posting on the Free Radical website today, the developers proudly proclaimed the announcement of TimeSplitters 4.
In typical Free Radical style with the TimeSplitters games, even the news of the game was released in amusing fashion on their website, as they stated, " It's back! Featuring even more crazy characters, devastating weapons and heart pounding hot sweaty action. It's funny, it's frantic and it'll do things you've never seen before! No, not naked girls, even better than that! We can't tell you the details yet, the monkeys have a loaded banana pressed against our skull, but this game will take the first person shooter to gaming nirvana. Save the world or die laughing, Timesplitters 4 is coming to getcha!"
We'll have more on TimeSplitters 4 as soon as it becomes available.
http://ps3.ign.com/articles/826/826094p1.html
check one of the links they made a halo/timesplitter spoof
also saw this at the site

I hope they go all out on this one. No consoles have been tied to the game but I assume all three will get a version and the IGN link assumes the PS3 is supported