UPDATE (4/27/15, 12:35 p.m. ET): Konami has finally released a definitive statement on the fate of the "Silent Hills" game. According to IGN, it reads, "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".

Last year when the free playable teaser known only as "P.T." debuted at Gamescom in August 2014, fans of the horror game genre were blown away by its incredibly terrifying gameplay and aesthetic. When everyone found out that the teaser was announcing a new installment of the "Silent Hill" franchise, featuring "The Walking Dead"'s Norman Reedus as its main protagonist, gamers were even more pumped to have the pants scared off of them.

However, now it looks like our pants are staying firmly on, because things are not looking good for the future of this game. On Sunday, "Silent Hills" collaborator Guillermo del Toro was asked about his involvement during the San Francisco Film Fest, and reportedly said the following:

Norman Reedus himself chimed in on Twitter, noting that he'd also been dropped from the game:

Today (April 27) Konami released an official statement to Gamespot and Eurogamer saying that their "contract period with Reedus has expired," and that they will "continue to develop the Silent Hill series." They did not confirm or deny that "Silent Hills" itself had been cancelled -- but given that the original "P.T." teaser is being pulled from the PlayStation Store this Wednesday (because, Konami says, "he distribution period has expired") and that Guillermo Del Toro will no longer be collaborating on the project, any new "Silent Hill" game we might eventually get is bound to be drastically different than what we were originally hoping for.

The reason for this sudden change? Many speculate that it has to do with complications between Konami and notable game developer Hideo Kojima, who is apparently planning to leave the company once he has finished work on the similarly anticipated "Metal Gear Solid V: The Phantom Pain," which ships in September.

No matter what's going on behind the scenes, one thing's for sure: we are definitely mourning the loss of a del Toro-directed, Daryl Dixon-starring horror game. Can you even imagine how awesome that would have been?