If new job listings from IO is any indication, it seems big Ian was right when he said Kane and Lynch wasn't going anywhere.
The listing from the Danish studio, currently working on Hitman Absolution, is for a senior multiplayer programmer to set "the foundation for a yet unannounced 3rd person game with strong cooperative multiplayer elements."
It's also hiring game programmers for "an unannounced AAA action title."
With Hitman in the works, this is all but likely to be the only other action series at IO, K&L. Unless, somehow, Freedom Fighters got a reprieve, but we're going with Kane and Lynch.