Konami have confirmed that the Kojima Productions project has been axed, but they are currently in discussions about future Silent Hill projects.
The news comes weeks after rumours (via GameSpot) emerged Hideo Kojima is preparing to part ways with Konami once Metal Gear Solid 5: The Phantom Pain is complete.
Konami said the following about the cancellation in a statement to Kotaku:
In terms of Kojima and Del Toro being involved, discussions on future Silent Hill projects are currently underway, and please stay tuned for further announcements."
So, more Silent Hill games will happen of course, but the terrifyingly impressive glimpse of 'Silent Hills' we saw in the the playable trailer for the project, named 'PT', with Norman Reedus (The Walking Dead), is no more.
Speaking of PT, it's unfortunately going to be removed from PlayStation Network on Wednesday, so if you're yet to check it out do so quickly. Oh, and keep the lights on while you fire it up, unless you want nightmares.