First announced at G-Star 2012, it has been announced that Nsquare will be stopping development on Mabinogi II: Arena. Nsquare is the joint team formed after Nexon bought over NCsoft, and the team will now move on to other new projects.
via N4G: pc news feed http://n4g.com/news/1428739/mabinogi-ii-arena-developement-discontinued-for-upcoming-sequel
via N4G: pc news feed http://n4g.com/news/1428739/mabinogi-ii-arena-developement-discontinued-for-upcoming-sequel