Just check any website for the headlines, I'm too lazy to dig it up.
Anyway, this bit of news could be bad for those hoping for the NiGHTs rumor to be true. Unless I'm mistaken, Yuji Naka is the person responsible for the original, NiGHTS, correct? If not, then you can pretty much ignore everything. If I'm right, then read on. Unless NiGHTS for Wii is already completed, it makes no sense to abandon it before finishing it. The only likely reason is that Naka's not in charge of the sequal in the first place, or it might be handed down to his new company. While it's possible, it's also silly to do such a thing. Work on an extended period of time on a project only to move it around to another company (even though the same guy is heading it). Heck, for all we know, a sequal could be in the works, but will be PS3/360 only.
Of course I could be completely wrong, but that's not such a bad thing at all. Whatever's the case, I'd keep my hype in check tomorrow. You might be pleasantly surprised, or left totally disappointed.