One of the best selling franchises of the last console generation and the best selling Star Wars game of all time is still awaiting a sequel. We now know that Free Radical Design was working on Star Wars Battlefront III, but were pulled from the project in October. A blow that sent the Timesplitters studio spiraling down in to their current state of administration with a skeleton crew working on a something that might or might not help safe the troubled developer.
Former Free Radical artist Richard Smith posted a few renders from the game (see below), to showcase his work as he is looking for new employment (wrong move as the license holder quickly got them pulled - but there is no "reset" on the internets). Rumour now has the project moved to Rebellion Software. Rebellion handled the PSP title Star Wars: Battlefront - Renegade Squadron, but Rebellion remain unproven on current generation (PS3/Xbox 360).
The most fundamental question that has to be asked is how Lucasarts could allow one of if not their most important title to get into this mess. I would be very surprised if Star Wars; Battlefront III ended up getting anywhere near the success its predecessors had.