Talk about a surprising turn of events, should this end up being legitimate. Apparenlty according Game Informer's latest issue (the same one outing Bulletstorm), it's alleged that Devil May Cry 5 is in development ... but not by Capcom's Japanese studio. Oh sure Capcom will still publish a fifth DMC whenever one gets made, but it seems the company is outsourcing the latest sequel to a Western studio, just as they did for Dead Rising 2.
Game Informer's Loose Talk section rumormongers that DMC5 has been handed to England-based Ninja Theory, the developer behind Heavenly Sword, and the upcoming Enslaved: Oddyey to the West. Definitely a fit team for the job.
"Loose Talk has learned that Enslaved isn't the only game Ninja Theory is working on-we've heard that the Cambridge, England developer is being tapped for the next Devil May Cry.
"It is not totally unexpected, however; Capcom has said that although it is shying away from Western developer for new IP, it would continue to utilize them for known franchises, which DMC certainly is."
Interesting, considering how well turning to Western studios has worked out for Capcom in recent times. Ninja Theory stated that in addition to Enslaved, which is due this year, they have a second secret project in the works, but it has yet to be revealed. Getting the Devil May Cry contract would certainly be a huge win for the company. No doubt they'd also likely be treated to a license of the MT Framework engine, as well.
DMC5 has been rumored for a good while now, and it's only a matter of time before it's announced. Maybe E3 will shed some light. Or Capcom's 2010 Captivate event which is already here.