While there has been no official word from anyone involved, it's looking like the Konami cancelled Silent Hills may be happening with everything but the name. Earlier this week Norman Reedus and Hideo Kojima met up for a picture...

And last night Guillermo del Toro tweets out this...

While it's all just speculation...it would appear we are seeing Kojima planning to release a spiritual successor to Silent Hills under his own umbrella! Granted this still means there's a long road of convincing both Reedus and Del Toro to get on board, especially after he made this comment to press last year shortly before the games cancellation...

“I have proven to be the albatross of video games...I joined THQ [to make a game called Insane] and THQ went broke. I joined [ Metal Gear Solid creator Hideo] Kojima [to make Silent Hills] and Kojima leaves Konami, so I have decided that in order not to destroy anyone else’s life, I will never again get involved in video games. Otherwise, I’ll work with someone and his house would explode or something, you know?”

Let's hope the two can work together to bring us the greatness that was the short demo that never developed.