Update: Square Enix has clarified to Polygon that while Eidos Montreal is working on a mobile Hitman, creator IO Interactive is still working on a new Hitman for PC and next-gen consoles.
Original: The Hitman franchise was supposed to be annualized, with alternating duties between Square Enix Montreal and IO Interactive. However, those plans have been put to rest, as Montreal's AAA console project has been canned.
A LinkedIn profile of senior game designer Richard Knight discovered by VideoGamer confirms the cancellation of Montreal's game. The project was canned last year in order to make way for a new Hitman game destined for mobile devices instead.
The shift in focus for Square Enix shouldn't be too surprising, especially after lackluster sales of the previous game in the series, Hitman Absolution. The company restructured afterwards, which explains the silent termination of Montreal's Hitman game.