Crytek UK - nee, Free Radical - has confirmed to Eurogamer that it's currently "talking to publishers" about creating a new TimeSplitters.
It's also discussing the possibility of an original single-player and multiplayer IP.
"We're talking to publishers at the moment about whether that's [TimeSplitters] a viable route or not," Crytek UK boss Karl Hilton told the site at GameCity in Nottingham.
"There hasn't been a TimeSplitters game for quite a while. Obviously TimeSplitters is a FPS with a strong multiplayer element. The question is, is that the way to go with another one, or should it go down a different route, or should we be developing a new IP altogether?
"It's down to us talking to publishers about what their interest is and where they see it going. If they're keen for a TS game, then we'd be happy to do one. If they'd like us to develop something new then we'd do that.
"Whether the TS is like the classic TS or whether the TS is a new imagined TS, that's the other thing to discuss with them."
It hasn't been quite decided yet by the developer if it's going to do a new IP or revisit TS, but so far, big noises are coming out from pubs on the latter.
"Talking to publishers, everyone is aware of TimeSplitters. It's got a brand awareness that's really good. Its success in different markets was quite variable. So depending on who you talk to, they either look at it as a really successful product or as a product that was almost successful but could have done better."
After entering administration in 2008, Free Radical was bought by Crytek early last year and was renamed Crytek UK.
It's since been working on the multiplayer aspect of Crysis 2 for EA, as revealed to us in New York back in April by main Crytek boss Cevat Yerli.