http://kotaku.com/fan-made-timesplit...ing-1269430925

Fan-Made TimeSplitters 'Greatest Hits' Remake is Coming to PS4

Crytek, custodian of the TimeSplitters franchise since the dissolution of its original studio, will support a fan-made "greatest-hits" style remake of the series that was announced earlier this week. Crytek's blessing means the game will release on PlayStation 4 in addition to PC.1
TimeSplitters Rewind will be made absolutely free to everyone, as a condition of the license developing team Pantheonyx has to use the series' name and features. "TimeSplitters Rewind is a fantastic initiative that Crytek continues to support," Nick Button-Brown, the general manager of games for Crytek, told Eurogamer. "We are happy to see the excitement and we hope it will be a great game."
Crytek's say-so was necessary for the game to release on PS4, where the game will enjoy classic splitscreen multiplayer (the PC version won't feature this.) TimeSplitters Rewind also will support cross platform play between PS4 and PC; Eurogamer reports Xbox One's discomfort with cross-platform play is the reason the game isn't deploying for that system.2
A release date hasn't yet been given; you can see some pre-alpha gameplay in that video above. TimeSplitters Rewind will, eventually, offer all the maps, weapons and characters from the three existing TimeSplitters games.
Crytek continues TimeSplitters Rewind support as PS4 version announced [Eurogamer]