After Square Enix decided to sell off IO Interactive, the future of Hitman lingered in purgatory. Square Enix owns the intellectual property and would continue to do so even without the developer, IO Interactive, around to develop it. If Square Enix chose to do this both Hitman: Season Two and future Hitman titles would seem unlikely.
Square is still "negotiating with prospective external investors," but also said it would be willing to give up the Hitman license in order to let IO Interactive continue working on the franchise.
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