The next Silent Hill title will be revealed at E3 in June, but until then, details about the game say that the game will be developed by Vatra Games, and that the title is part of a major franchise and will be published for the PC as well as other platforms, to be released in Q1 2011.
Other rumours suggest that this new, yet to be titled, Silent Hill game could be a remake or “re-imagining” of Silent Hill 2, which has angered some fans of the series, who regard it as a classic, and claim that that it would be like trying to do a modern remake of a classic horror film. And we know how those end up.
But it may not be so far-fetched, even though little more than a rumour at this point, seeing as Shattered Memories was a remake of the original Silent Hill.
“Konami Announces the Next Silent Hill” [1UP]
"Silent Hill shown, details to become less foggy at E3” [Joystiq]