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In late August, Sony shut down Wipeout creators Studio Liverpool. However, the team sent out a bulletin to Wipeout this week urging them not to lose hope for the sci-fi racing series.
First, Studio Liverpool (or its former employees) sent out a tweet that they're still alive. It was accompanied by a picture of the frenzied combat racing we've come to expect from the series.
In a follow-up Facebook post, they mentioned that they're still waiting to find out the future of Wipeout. However in the mean time, they're going to continue online play for current games. Furthermore, community events and giveaways are on the way.
"WipEout’s passion will live on - Together we are stronger and together we will keep WipEout alive."
When Liverpool was closed, rumor has it that they were working on a Wipeout for PS4. It's possible that Sony will move this project to another studio within their network. Just because Sony didn't think the developer was worth keeping open doesn't mean that they think the series isn't worth keeping. Wipeout has been a PlayStation franchise since the PSOne days; it's unlikely that Sony would kill it outright.