According to the folks over at Videogamer, a source close to the matter revealed information regarding the future of the Dead Space franchise. According to their source, Electronic Arts is canceling the development of future Dead Space titles citing poor sales of Dead Space 3 as the catalyst.

After the release of Dead Space 3, and the lack of sales that followed, EA announced plans to restructure its studios in Los Angeles and Montreal. But since that time a former Visceral Montreal employee has told Game Informer that the "entire staff" [in Montreal] was laid off, the team behind Dead Space 3; the same team said to be working on the 4th installment in the franchise.

It's unfortunate but it's also a nature of the business; EA is in the business of selling games and selling a lot of them.

Interestingly enough, EA's last earnings call featured talk of 12 core titles that would carry them in the next console generation. It's actually quite surprising that Dead Space wasn't part of that plan. With Medal of Honor on hold, Dead Space gone, and Army of Two likely on its way out as well, one has to at least be hopeful that we'll be seeing a handful of new IP from the publisher at this year's E3.

Stay tuned to DualShockers for all of your gaming news.

Update: Electronic Arts has very firmly denied the rumor, calling the story published by Videogamer "patently false" while no data on the actual sales of Dead Space 3 were given.