"Fans of the franchise will be excited to learn that, yes, more Wake is coming!" he said. "But to be absolutely certain to avoid confusion, this next Wake installment will not be Alan Wake 2. But neither will it be DLC." The full explanation, "when we'll actually SHOW YOU," is being saved for the official announcement later.
If it's not a sequel, then what is it? (What is it with you and confounding nebulousness, Alan?) "It's something that'll definitely give more to the Wake fans out there, but just as importantly, this installment will also give an opportunity for players who aren't familiar with the franchise to finally jump on board." Could it be an updated version of the original scary-forest sim, or an episodic continuation?
Remedy is not announcing platforms or release dates yet, but told us that "Fall 2011 is probably a good guess." Also a good guess? Nowhere near a Rockstar game.