[Update 2] Konami has issued the following statement:

“Konami is committed to new Silent Hill titles, however the embryonic ‘Silent Hills’ project developed with Guillermo del Toro and featuring the likeness of Norman Reedus will not be continued. 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.”

[Update] Eurogamer has received the following Q&A from Konami:

Why has the image of Norman Reedus disappeared from the official website?

This is because our contract period with him has expired.

Why is "P.T." no longer available on Playstation Network?

Because the distribution period has expired.

What will happen with regard to "SILENT HILL"?

Konami Digital Entertainment Co., Ltd. will continue to develop the "SILENT HILL" series.

What will happen with regard to "P.T."?

P.T. was purely created to be a playable teaser for "SILENT HILL."

What do you mean by "playable teaser"?

The playable teaser was a trial edition of "SILENT HILLS" intended to give players an idea of the game concept.

You can visit the official Silent Hills site here,

Silent Hills was planned and under development for the PlayStation 4. Directed by Hideo Kojima and his studio in collaboration with film director Guillermo del Toro, it was to be the ninth installment in the Silent Hill series.

Kojima was brought onto the project in September 2012 by Konami, with a reveal of the game in August 2014 via P.T., a critically praised interactive trailer that was released as a free download from PlayStation Store. P.T. Actor Norman Reedus of The Walking Dead was also involved as the voice and likeness of its protagonist.

Following Hideo Kojima's recent departure from Konami, fans were wondering what fate would befall Silent Hills. Unfortunately, last night at the San Francisco International Film Festival, acclaimed director/writer/producer Guillermo del Toro (Hellboy, Pan’s Labyrinth), was asked about the status of Silent Hills, to which he responded “It’s not gonna happen and that breaks my greasy heart.”

Del Toro's quote was tweeted by Matt Hackney, and it quickly spread like wildfire. Ian Gibson, Del Toro's assistant responded to another tweet essentially confirming that the information was true.

Here is the audio from #GuillermodelToro talking about #SilentHills. It's from a phone, low quality. https://t.co/AVXlibE7KD — TV's Matt Hackney (@tvsmatthackney) April 27, 2015

The playable teaser for the game (P.T.) is being pulled from the PSN store in the next few days, with no explanation given. Hideo Kojima will be leaving Konami after the September release of Metal Gear 5: The Phantom Pain, although Konami has already stated that the Metal Gear series will continue after Kojima's departure but there was no mention regarding Silent Hills.

The killing blow was given by actor Norman Reedus, who with a tweet of his own he confirmed the cancellation.

Super bummed about this was really looking forward to it. Hopefully it'll come back around. Sorry everyone 🍕 http://t.co/drZJ8tBsSN — norman reedus (@wwwbigbaldhead) April 26, 2015

It's really a sad and unfortunate turnout, as many were looking forward to this incredibly promising collaboration between one of the greatest game development studios in the industry and one of the most inspired and gifted directors in film.

The Silent Hill franchise has long now needed a strong comeback and this one would probably have been it. Having Hideo Kojima helm the project, along with the very beloved persona of Norman Reedus who stars as one of TV's most iconic characters and very well liked by fans of The Walking Dead, would have been amazing. The involvement of Guillermo del Toro, the genius behind a number of great movies was only the icing on the cake.

Let's hope that Konami reconsiders the fate of Silent Hills and the project gets resurrected at some point. We will bring you any news regarding Silent Hills as soon as it becomes available. In the meantime be sure to check out our Metal Gear 5 coverage, here and here.