Look, I'm going to start this story by saying that I don't believe any of it. But, it's being picked up by a lot of outlets and it's a fun bit of speculation, so let's roll with it for now.
RoosterTeeth are claiming to have received reports from a source that Microsoft are going to save Silent Hills after the huge Hideo Kojima and Konami split. This would make the game an Xbox One exclusive. They say the corporation has bought the IP for "billions" and that the game was 80% done when it was cancelled meaning we could see it by March 2016.
They also claim that P.T. was only pulled from the PlayStation store as a show of good faith Microsoft.
Look, if this story was just that Microsoft are stepping in to save the game, I could believe that at a stretch. But factor in the claim that the game was 80% done, which there is no conceivable way it could be, and the fact that you could probably buy all of Konami for "billions" right now… It just doesn't hold water.
Seriously though. Microsoft, Save Silent Hills.
As I guessed too, it turns out this isn't true. The Xbox boss came out and denied this. Take a read about it over here.