From Gamasutra:

Publisher Warner Bros. Interactive Entertainment announced Thursday Fear 3, the latest in its horror FPS franchise, which will be developed by Chicago’s Day 1 Studios, creators of Fracture. The game is due in fall this year for Xbox 360, PlayStation 3 and PC. […]

"Monolith Productions has passed the torch to Day 1 Studios to create a quality, powerful game that stays true to the roots of the Fear franchise but takes players to a heightened level of gameplay," said Martin Tremblay, president of WBIE. […]

Although Day 1 will be heading up development of Fear 3, WBIE said the studio will be collaborating with Monolith. Day 1’s most recent game was LucasArts’ 2008 third-person shooter Fracture.

Also involved in the game’s development is horror film director John Carpenter, whose credits include "Halloween" and "Village of the Damned," and horror comic strip writer Steve Niles, responsible for "30 Days of Night." The two are consulting on the game’s scare factor, with Niles co-writing the game script and Carpenter offering input on in-game cinematics.

Read the full article on Gamasutra…

Update: Check out the freaky trailer from GameTrailers:

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Tags: day 1 studios, f.3.a.r., f.e.a.r., fear 3, Martin Tremblay, Warner Bros