Miyamoto confirms the studio is currently too busy to take on the task.
Retro Studios is not currently working on a Wii U Zelda game, a recent IGN interview with Shigeru MIyamoto reports.
Echoing previous comments from Nintendo of America president, Reggie Fils-Aime, Miyamoto said, “Retro is very busy right now, but I’m afraid I can’t say exactly what it is they’re very busy [working] on.”
He continued by stating, "In terms of them working on a Zelda, it's not out of the question, certainly, for them to work on an entire Zelda game amongst themselves. Traditionally I think that the Zelda team has always had a close contact with anyone who's working on a Zelda game. If you were going to have that happen in the US at Retro, that would be kind of difficult for them to be able to coordinate. Certainly they're too busy for that sort of thing right now. It would probably require me to be involved to a great extent as well, so I would have to get over quite a bit too. I'd probably have to live in Texas... [laughs]”