To no surprise, the next iteration of the horror franchise will be called 'Alan Wake's Night Springs' and it will exclusively available on Xbox Live Arcade. The news story was released on Alan Wake's official Facebook page stating:
Alan Wake returns through Xbox Live Arcade! [Come back on] Monday for the first screenshot, and the 2011 Spike VGA's, December 10th, for more information on this Epic Adventure. Are you ready to become the Champion of Light?
For those of you who are new to the franchise, 'Night Springs' was an odd, Twilight Zone-like TV series that Alan Wake wrote for before he became a famous novelist. The fictional show played in segments on TV sets located throughout the game. There are no details that confirm whether Alan Wake will be the main protagonist again or if it will focus on entirely different characters; however, we will most likely know more in the coming weeks.
I played through Alan Wake and it was definitely an underrated game. Even though it was one of the most stressful gaming experiences in my life, mainly because of how intense and eerie it was, I still thoroughly enjoyed the game. I recommend checking it out if you haven't already!